Green Portfolio Review - Halal Finance Products
Reviewed quarterly and updated for major content changes.
Green Portfolio offers halal financial products and services designed to align with Islamic principles. These options provide alternatives to conventional interest-based financial products, using structures like Murabaha, Ijara, and Musharakah.
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HalalWallet 2026 Review
Green Portfolio - At a Glance
2
Products Reviewed
All
Provinces (Nationwide)
1
Category
Our Verdict
Green Portfolio brings PMS-grade research to Shariah investors through an outsourced compliance model: Islamicly's database does the screening and surveillance while Green Portfolio picks stocks inside the compliant universe. The result is the best administered purification and the most flexible pricing (performance-only PMS fees, flat smallcase subscriptions) in the cluster. The governance shape is the caveat: certification rests on a screening platform, not a named scholar bench, and the firm's wider shelf is conventional.
Pros & Cons
What We Like
- Performance-only fee option on the Shariah PMS
- Continuous Islamicly compliance monitoring, not annual rechecks
- Administered dividend purification notifications
- Retail smallcase route to the same methodology
- Custodian-segregated client assets under SEBI PMS regulations
What Could Be Better
- No named scholars behind the certification
- Shariah PMS track record only since mid-2024
- Conventional products dominate the firm's shelf
- smallcase subscription fee not printed in crawlable text
Who Is Green Portfolio Best For?
HNIs seeking aligned incentives
0% fixed fee Shariah PMS means the manager earns only on performance
Retail halal investors
Green Ethical smallcase delivers screened stocks in your own demat from about INR 53,000
Investors who dislike DIY purification
Dividend purification notifications are administered for you
Detailed Analysis
Green Portfolio (P) Ltd is a Gurgaon-based investment manager co-founded by Divam Sharma, running discretionary PMS strategies, a Category III AIF and subscription smallcases off one research engine tilted toward under-the-radar manufacturing companies (average portfolio market cap around INR 12,000 crores per the co-branded page). Third-party PMS databases put firmwide managed assets above INR 700 crores across six PMS schemes.
The Shariah line launched with the Green Ethical Fund PMS (inception 27 June 2024 per BusinessToday's PMS tracker) and extends to the Green Ethical Portfolio smallcase. Both ride the same compliance arrangement: Islamicly, the Shariah stock screening platform, certifies and continuously monitors the portfolios, coordinates rebalances (monthly for the PMS per PMS AIF World, quarterly for the smallcase per the joint blog) and triggers exits when names turn non-compliant.
Two features stand out against the Indian field. First, pricing: the PMS prints a 0% fixed fee, pay-only-for-performance option, and smallcases charge flat subscriptions independent of portfolio size. Second, purification: dividend purification notifications are issued to investors, meaning the impure-income calculation is administered rather than delegated, which only this provider prints among the five ingested.
The style risk deserves note: minimal banking and IT exposure with a manufacturing bias means tracking error against broad indices will be persistent, and the small and midcap tilt cuts both ways in drawdowns. The +28.00% homepage ticker for the Ethical smallcase carries no printed period and should not anchor expectations. The Shariah PMS mandate is young (mid-2024), so certification currency matters more than track record here.
How It Works
Two delivery wrappers around one screened universe: a discretionary PMS (SEBI Portfolio Managers Regulations 2020, custodian-held client assets, INR 50 lakh floor) and a Research Analyst model portfolio on smallcase (investor executes in their own broker and demat account). Islamicly provides the Shariah layer: screening data, continuous monitoring, rebalance coordination and purification notifications.
Pick your wrapper
INR 50 lakh plus goes to the Green Ethical Fund PMS; retail money subscribes to the Green Ethical Portfolio smallcase.
Onboard
PMS clients sign custodian and POA documentation (NRE/NRO route for NRIs); smallcase subscribers connect their existing broker.
Hold screened stocks
15 to 20 flexi-cap names (smallcase) or the PMS book, all inside Islamicly's compliant universe.
Follow rebalances and purification notices
Apply rebalance updates; donate the notified impure dividend portion to charity.
Shariah Compliance Review
Oversight Level
Review details on provider's website
SEBI PMS licence INP000006022; RA licence INH100008513; AIF Cat III IN/AIF3/25-26/1774; BSE enlistment 5461 (site footer, crawled 2026-08-06)
Shariah certification and monitoring by Islamicly per the co-branded offer page greenportfoliopms.islamicly.com (crawled 2026-08-06)
Client funds held by SEBI-mandated custodian, segregated in client name (offer page FAQ, crawled 2026-08-06)
Green Ethical Fund PMS inception 27 June 2024 (BusinessToday PMS tracker)
Note: the site FAQ prints the RA licence with a missing digit (INH00008513) while the footer prints INH100008513; the footer format matches SEBI conventions
Shariah compliance should always be verified directly with Green Portfolio. HalalWallet reports publicly available oversight information but does not issue fatwas or certify compliance.
How It Compares
Against Geojit's Ethical Portfolio at the same INR 50 lakh gate, Green Portfolio offers sharper pricing (performance-only) and administered purification, while Geojit offers TASIS certification verifiable on the certifier's site and an institutional parent. Against Zamzam and SenSage in retail, the Green Ethical smallcase is the most process-documented option but the only one without any scholar identity at all.
TASIS-certified PMS with certifier-side verification; Green Portfolio counters with performance-only fees and administered purification.
vs. Zamzam Capital
Named scholar board and signed stock list at retail money; Green Portfolio counters with a larger research house and live Islamicly surveillance.
vs. SenSage Financial Services
Halal-only firm identity and goal planning; Green Portfolio counters with administered purification and PMS-grade research depth.
Bottom Line
The process leader: live compliance surveillance, administered purification and performance-only fees. Accept platform-based certification without named scholars, and size the manufacturing tilt consciously.
Products from Green Portfolio
Why It's Halal
The Islamicly collaboration is documented across both firms' properties: screening and ongoing compliance use Islamicly's database, non-compliant stocks are exited at the next rebalance, and dividend purification notifications are issued to subscribers. The investor holds stocks directly in their own demat account, which keeps ownership clean. Caveats: no named scholars stand behind the screening, the +28.00% homepage figure carries no printed period, and the flat subscription fee amount is app-gated rather than printed in crawlable text (crawled greenportfolio.co 2026-08-06).
Green Portfolio
Green Ethical Portfolio (Shariah smallcase)
Green Portfolio's retail Shariah offering: a flexi-cap smallcase model portfolio of 15 to 20 Shariah-compliant stocks under its SEBI Research Analyst registration (INH100008513), executed through the investor's own broker via the smallcase platform. Green Portfolio's homepage ticker showed the 'Green Ethical Portfolio - Shariah Investing Theme' at +28.00% at crawl time (period not stated in crawlable text). Smallcases carry a flat subscription fee regardless of investment amount and start around INR 10,000; the Islamicly co-published playbook printed a minimum of INR 53,069 for this portfolio in December 2025 (the figure moves with constituent prices). Compliance is monitored using Islamicly's screening database with quarterly rebalancing, prompt removal of non-compliant stocks and dividend purification notifications.
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Green Portfolio
The Green Ethical Fund (Shariah PMS)
Green Portfolio's Shariah-compliant discretionary PMS (SEBI Portfolio Manager INP000006022), marketed jointly with Islamicly under 'Shariah Certified PMS' branding on a co-branded page (greenportfoliopms.islamicly.com). Minimum investment is the SEBI floor of INR 50 lakhs, with a printed '0% fixed fees and pay only for performance' option. The strategy focuses on under-the-radar manufacturing-oriented companies (average portfolio market cap around INR 12,000 crores per the co-branded page), holds minimal banking and IT exposure by design, and rebalances in coordination with Islamicly's live compliance data. Third-party PMS databases date the fund's inception to 27 June 2024. Custody is segregated: funds sit with a SEBI-mandated custodian in the client's name, never in Green Portfolio's own account.
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Where Available
Based on listings we track, Green Portfolio operates nationwide:
Nationwide availability
Availability may vary by product type. Always verify current availability directly with Green Portfolio.
How We Compare
- • We review publicly available information from providers, including Shariah compliance documentation.
- • We compare financing structures, total costs, down payment requirements, and state availability.
- • We prioritize providers that clearly explain their halal compliance rationale and operate with transparency.
- • We note which products are available nationwide versus regionally.
- • Learn more about our methodology.
Quick Answer
Green Portfolio offers halal financial products that comply with Shariah principles, avoiding interest (riba) and prohibited industries. Their products are available in 1 state and include Investing options.
Key Takeaways
- Green Portfolio offers Shariah-compliant financial products that avoid interest and prohibited industries.
- Products are available in 1 state: Nationwide.
- Product categories include Investing.
- Always verify compliance directly with Green Portfolio and consult qualified Islamic finance advisors when needed.
- Compare Green Portfolio's products with other providers to find the best fit for your needs.
Important: HalalWallet provides educational information and comparisons to help you explore halal financial options. We do not provide financial, legal, or religious advice. Product structures and Shariah compliance oversight vary by provider. Always verify halal compliance directly with providers and consult with qualified Islamic finance advisors or scholars for guidance on specific products and your individual circumstances.
Sources and review process
This page is reviewed against HalalWallet editorial standards and source documentation.
Reviewed by: HalalWallet Editorial Team
Last reviewed: 2026-03-09
How to cite this page
Preferred format:
For time-sensitive claims (rates, fees, state availability), please verify directly with the provider's official documentation and note the retrieval date.
Related Guides
Frequently Asked Questions
What types of halal products does Green Portfolio offer?
Green Portfolio offers 2 products across 1 category. Green Portfolio is best for [object Object],[object Object],[object Object]. Review the products listed above or contact Green Portfolio directly for current offerings.
How does Green Portfolio ensure Shariah compliance?
SEBI PMS licence INP000006022; RA licence INH100008513; AIF Cat III IN/AIF3/25-26/1774; BSE enlistment 5461 (site footer, crawled 2026-08-06) Shariah certification and monitoring by Islamicly per the co-branded offer page greenportfoliopms.islamicly.com (crawled 2026-08-06) Client funds held by SEBI-mandated custodian, segregated in client name (offer page FAQ, crawled 2026-08-06) Green Ethical Fund PMS inception 27 June 2024 (BusinessToday PMS tracker) Note: the site FAQ prints the RA licence with a missing digit (INH00008513) while the footer prints INH100008513; the footer format matches SEBI conventions
How does Green Portfolio work?
Pick your wrapper: INR 50 lakh plus goes to the Green Ethical Fund PMS; retail money subscribes to the Green Ethical Portfolio smallcase. Onboard: PMS clients sign custodian and POA documentation (NRE/NRO route for NRIs); smallcase subscribers connect their existing broker. Hold screened stocks: 15 to 20 flexi-cap names (smallcase) or the PMS book, all inside Islamicly's compliant universe. Follow rebalances and purification notices: Apply rebalance updates; donate the notified impure dividend portion to charity.
Is Green Portfolio available in my state?
Green Portfolio operates nationwide, though specific products may have regional limitations. Always verify current availability directly with Green Portfolio.
What are alternatives to Green Portfolio?
Against Geojit's Ethical Portfolio at the same INR 50 lakh gate, Green Portfolio offers sharper pricing (performance-only) and administered purification, while Geojit offers TASIS certification verifiable on the certifier's site and an institutional parent. Against Zamzam and SenSage in retail, the Green Ethical smallcase is the most process-documented option but the only one without any scholar identity at all. Geojit Financial Services: TASIS-certified PMS with certifier-side verification; Green Portfolio counters with performance-only fees and administered purification. Zamzam Capital: Named scholar board and signed stock list at retail money; Green Portfolio counters with a larger research house and live Islamicly surveillance. SenSage Financial Services: Halal-only firm identity and goal planning; Green Portfolio counters with administered purification and PMS-grade research depth.
Are Green Portfolio's products more expensive than conventional options?
Halal financing structures can have different fee structures compared to conventional products. Some options may be competitive with conventional rates, while others may have different cost structures. Pricing varies by product type, location, and individual circumstances. Always compare total costs and terms when evaluating options.
How do I contact Green Portfolio?
Contact information for Green Portfolio should be available through their website or the product listings above. Use the action links provided with each product to visit Green Portfolio's website or contact them directly for more information.
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