1 Tanka - Ala al-Din Mahmud Shah I

Ala al-Din Mahmud Shah I ruled Malwa during a period of sustained pressure from the Bahmani Sultanate to the south and the Sultanate of Gujarat to the north — a squeeze that would eventually destroy the dynasty entirely in 1531. His reign nonetheless saw continued silver-billon coinage production at Mandu, the cliff-fortress capital perched above the Narmada plain, which remained the administrative and minting center throughout.

Billon output from Malwa in this period is notoriously inconsistent in alloy quality, and the GG#M33 type shows measurable variation in silver content across surviving specimens.