The school was setup by Smt. Lakshmi Bhasi in memory of her parents, Sri Sankunni Panicker and Srimati Madhavi Amma. The school is an expression of the great love and respect Smt Lakshmi Bhasi feels for her parents. The Rajashree S.M.Memorial Senior Secondary School was established in 1995 and is run by the S.M Memorial Trust. The school started in a rented building with only 10 students. Today it has around 1200 students (Play group- Class XII) and 115 staff members on its rolls. The journey from there to the present was challenging and Smt. Lakshmi Bhasi was helped on her way by Mrs. Usha Unnikrishnan, Mrs. Padmaja Gopakumar and Mrs. Shailaja Nair.