The Company was incorporated originally as Premier Synthetics and Processors Ltd. (PSPL) in the State of Maharashtra on 9th October, 1970, by the original promoter, Shri. B.K. Jhunjhunwala for setting up a cloth processing unit at Village Pawne (Maharashtra) with IFCI assistance.

The last change in management took place in the year 2015 under the SEBI (SAST) Regulations 2011 and the following persons became the promoters of the Company: