Established in 1993 as a privately held enterprise, Parmeshwari Silk Mills (PSM) underwent a transformation into a public limited company in 1995. Founded by S Parmjit Singh, S Jatinder Pal Singh, and Mrs. Prabhpreet Kaur, the company is currently under the management of Jatinderpal Singh. PSM primarily focuses on the production of textiles including suiting and shirtings. In February 1996, PSM launched a public offering, issuing 1,560,000 equity shares valued at Rs 10 each, for cash at par, totaling Rs 1.56 crore. The purpose behind this offering was to fund expansion initiatives aimed at increasing the manufacturing capacity for textile suitings and shirtings from 384,000 and 432,000 meters per annum respectively to 960,000 and 612,000 meters per annum respectively.