IIEBM was established in the year 2000 by Shrimant Vijaysinh Naik Nimbalkar Alias Shivajiraje, scion of the ruling family of Phaltan, District Satara, and Col.Vinod Marwaha a visionary, entrepreneur, and philanthropist.
Education in the pre-merger era in the state of Phaltan was provided by the Royal Family. His Highness Shrimant Mudhojirao Naik Nimbalkar ruler of Phaltan State had established his first school in the year 1893.
After the merger of erstwhile princely states with the mainstream Government, the staff of the state of Phaltan was transferred to the Government. This led to the establishment of the Phaltan Education Society which was registered under the Bombay Public Trusts Act 1950 on 27th April 1953.
Thereafter, "The Phaltan Education Society'' received strong support from Shrimant Vijaysinh Naik Nimbalkar, who was a firm believer in the cause of education and made it grow by leaps and bounds to its present status.
As all Institutions of The Phaltan Education Society were based out of Phaltan, Shrimant Vijaysinh Naik Nimbalkar and Col.Vinod Marwaha decided to establish IIEBM in Pune to afford students from the Phaltan region and wards of defense families better corporate exposure and interaction along with affordable,quality and value-based Management education. Their dream bore fruit when the first batch graduated in the year 2002 and was successfully placed in Indian and Multinational companies. Since then there has been no looking back and IIEBM has grown to its present stature and will continue to grow as we continue to increase our competitiveness both locally and nationally.