LNMIIT was founded in 2002 as a joint effort between Rajasthan State and Lakshmi and Usha Mittal Foundation's philanthropic initiative. With the emphasis on quality and rigor in education, the Institute began its first academic session in July 2003 and was granted Deemed University status by UGC in 2006 under the De-Novo category. The 100- acre green residential campus is located in a serene atmosphere on the outskirts of India's pink city, Jaipur. In the first decade, six undergraduate batches totaling approximately 600 students have graduated. Currently the total number of undergraduate students on the roll is 1170 and of graduate students is 59 and girls constituting more than 30% of total students.
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