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PSM Spinning, formerly Priyadarshini Spinning Mills, was promoted by C K Rao and others, and incorporated in May '81. The original project (unit-1) was set up with the assistance of the Andhra Pradesh Industrial Development Corporation at Sadasivpet, Andhra Pradesh, commissioned in Jan.'83 with a capacity of 20,736 spindles.

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Company History - Priyadarshini Spinning Mills: YEAR EVENTS 1981 - The company was incorporated on 14th May, and the certificate of commencement of business was obtained on 3rd July.