RSGSM was initially incorporated in the year 1945 as “The Bikaner Industrial Corporation Ltd., Bikaner” in private sector and privately run from 1945 to 1952. It was leased to the State Government of Rajasthan for a period of two years.

The State Govt. purchased the shares of the managing agents and the control of the Company was taken over by the Govt. of Rajasthan w.e.f. 1st July, 1956

Name of the Company was changed as ‘The Ganganagar Sugar Mills Ltd.' w.e.f. 21.1.1957 and it was further changed to ‘Rajasthan State Ganganagar Sugar Mills Ltd.' w.e.f. 14th May, 1993.

RSGSM has played a vital role in safeguarding the excise revenue of the State Govt. by way of successful implementation of the Excise Policy and has earned reasonable rate of return on the investments made.