It was established in 1859 by Sir Cowasji Jehangir Readymoney, a notable Parsi community leader, philanthropist and industrialist of the city.

In 1929, Bai Cooverbai D. Mama, a niece of the founder, bequeathed by her will a sum of Rs.

70,000 was spent on the construction of this building on the land given by Sir Cowasji Jehangir, 2nd Baronet.

The Dowager Lady Dhunbai Cowasjee Jehangir donated Rs.

All students of the secondary school belong to one of four houses - blue, green, red and orange.