Rai University was originally established by the Rai Foundation in 2002 in Chhattisgarh, one of 46 universities which were established through The Chhattisgarh Niji Kshetra Vishwavidyalaya (Sthapana aur Viniyaman) Adhiniyam, 2001[3] within a year.

[7] In 2005 the Supreme Court of India passed a decision which cancelled the relevant sections in the above-mentioned act, thus closing 117 universities, Rai University among them.

[11] In 2012 the Government of Gujarat invited the Rai Foundation to establish a private university in the Belapur campus.

[14] Admission is based on national and state entrance exams and a personal interview.

[17] The institute runs nine schools:[18] In 2016 the Government of Gujarat directed Rai University (along with Parul University) to stop admission to its agriculture courses which were unrecognized by the government.