GMCBL was incorporated under the provisions of the Companies Act, 2013 on 5 th September 2017 as a Special Purpose Vehicle with the joint collaboration of GMDA (50%), MCG (40%) and Haryana State Industrial and Infrastructure Development Corporation Limited (HSIIDC) (10%) with the objective to set up, manage, operate a city bus transport system in Gurugram metropolitan area as declared under section 3 of Gurugram Metropolitan Development Authority Act, 2017.

Prior to the incorporation of GMCBL, a Memorandum of Understanding (MoU) was entered into by MCG, one of the promoters of GMCBL, with M/s Delhi Integrated Multi-Model Transit Systems (DIMTS) pursuant to the approval of State Government dated 18/04/2017. The MoU is a framework Memorandum for knowledge support including project management and transaction advisory service for city bus operations in Gurugram Metropolitan Area.