As  part  of  National  mathematical  year  celebration  in connection with the 125 birth anniversary of the great mathematician, Srinivasa Ramanujan, the formation of the  Institute  (SRIBS) was  announced  by  the  Shri Oommen Chandy on 13th Jan 2012 at Thiruvananthapuram. It was on the occasion of the launching the Mathematical year activities organized by Kerala State Council for Science and Technology (KSCSTE) in line with the proposals of the National board of Higher Mathematics and Ministry of Human Resource Development, Govt of India. The Executive Committee of KSCSTE approved this proposal, and in the Governor’s Address to the Kerala Legislative Assembly, this institute was declared as one of the flagship activities of Department of Science and Technology , Govt of Kerala. 

SRIBS was inaugurated by the Honb'le Chief Minister of Kerala on 7th February 2013 at a function held at Hotel Mascot, Thiruvananthapuram.

SRIBS office was opened at Pampady, Kottyam by the Honb'le Chief Minister of Kerala in a public function held on 9th February 2014.