- The Union government sanctioned an IIM for Himachal Pradesh in its financial budget of 2014.
- On 15th August 2014, the Hon'ble Chief Minister of Himachal Pradesh, Virbhadra Singh announced that the IIM would be setup at Dhaulakuan near Nahan town in the Sirmaur district. Sirmaur was selected over Kullu and Shimla because an IIM would help to improve the socio-economic condition of local people.
- The inaugural ceremony for IIM Sirmaur was held on 4th September 2015. The ceremony was attended by Dr. Rajeev Bindal, Former Minister of health and family welfare in Government of Himachal Pradesh, Shri Kirnesh Jung, MLA Paonta Sahib, Professor Rakesh Srivastava and Professor Bharat Bhaskar, the head of the task force committee of IIM Sirmaur on behalf of Mentoring Institute IIM Lucknow.
- On 12th March 2015, the Union Human Resource Development (HRD) Ministry approved a 200-acre site near Dhaula Kuan for the development of the permanent Campus of the Institute
- Classes for the first batch of the Post Graduate Programme in Management (PGDM) at IIM Sirmaur commenced on 4th September 2015.
- Classes for the second batch of the Post Graduate Programme in Management (PGDM) at IIM Sirmaur commenced on 18th July 2016. Post induction ceremony was held on 16th July 2016. Dr. Ajit Prasad, Director IIM Lucknow, Prof. Srivastava and Sanjeev Govil, CEO Idea Cellular Limited and G. Ramesh CEO and MD HDB Financial Services Limited addressed the students on the occasion.
- Appointments Committee of Cabinet headed by Prime Minister Shri Narendra Modi appointed Prof. (Dr.) Neelu Rohmetra as the founding Director, Indian Institute of Management Sirmaur. Prof. Rohmetra is the first women Director ever appointed to head an IIM in the country in the last over 50 years.
- 1st annual convocation of IIM Sirmaur held on April 8, 2017. Chief Minister of the State of Himachal Pradesh Shri Virbhadra Singh was the Chief Guest and delivered the Convocation address. Chairman BoG, Shri Ajay S Shriram, Chairman and Sr. Managing Director, DCM Shriram Limited was the guest of honour.