Maharaja Ranjit Singh College of Professional Sciences has been established in 1994 by the Indo Friends Foundation, Indore. The Indo Friends Foundation is a voluntary, non political, non profit making organisation registered with the Government of M.P. as a public trust. Inspired by the great patriot and democrat, the Lion of Punjab - Maharaja Ranjit Singh and his immense love for education, the foundation named the Institute as "Maharaja Ranjit Singh College of Professional Sciences".

The Management of the College has dedicated members who are experts in their fields and are committed to develop the Institute as a centre of excellence in Professional Sciences.