The institute was set up in 1997 by Prestige Education Society registered under the Societies Registration Act 1860. The objective was to meet a widely felt need for globally oriented management and information technology education and training for professionals.

The Institute started functioning from leased premises at Manik Vilas Colony, Gwalior. From this small beginning it has grown to be a premier institute and now occupies its own premises at Airport Road, opposite Deendayal Nagar, Gwalior. It is a major learning centre in Central India. TThe Institute has approval of All India Council for Technical Education and the State Government and is affiliated to Jiwaji University, Gwalior for MBA and Rajiv Gandhi Prodyogiki Vishwavidyalaya, Bhopal for MCA. The respective Universities award all the degrees offered by the Institute.