The sultanate of Malwa was founded by Dilawar Khan Ghuri, the governor of Malwa for the Delhi Sultanate, who asserted his independence in 1392, but did not actually assume the ensigns of royalty till 1401. Initially Dhar was the capital of the new kingdom, but soon it was shifted to Mandu, which was renamed Shadiabad (the city of joy). After his death, he was succeeded by his son Alp Khan, who assumed the title of Hoshang Shah. The Ghurid dynasty, founded by Dilawar Khan Ghuri, was replaced by Mahmud Shah I, who proclaimed himself king on May 16, 1436. The Khalji dynasty, founded by him, ruled over Malwa till 1531. Mahmud Khalji I was succeeded by his eldest son Ghiyas-ud-Din. The last days of Ghiyas-ud-Din were embittered by a struggle for throne between his two sons, with Nasir-ud-Din emerging victorious over Ala-ud-Din and ascending the throne on October 22, 1500, Before Ghiyas ud din dead a group of saint going to Hajj their leader Imam mahdi Syed Muhammad Jaunpuri Alaisalam come to Mandu the capital city of that time history know about his followers number & Ghiyas-ud-Din also belief him has a imam mahdi & become Mahdavia. The last ruler Mahmud Shah II surrendered to Bahadur Shah, the sultan of Gujarat after the fort of Mandu fell to Bahadur on May 25, 1531.

Based on this passage, who founded the independent muslim kingdom of malwa? Let's think fast. Stream of consciousness:
To answer the question, consider the following: The sultanate of Malwa was founded by Dilawar Khan Ghuri, the governor of Malwa for the Delhi Sultanate, who asserted his independence in 1392, but did not actually assume the ensigns of royalty till 1401. So the final answer is Dilawar Khan Ghuri.