In April 2020,
RoundGlass Sports Pvt. Ltd. completed the acquisition of the
I-League club
Minerva Punjab, rebranding it later the year as
RoundGlass Punjab. After promotion to the ISL, they changed name to
Punjab FC in July 2023. On 15 June 2020, they appointed
Curtis Fleming as
head coach. On 15 July, they appointed Nikolaos Topoliatis as new
technical director. As the season progressed, Punjab made it to the championship stage and finished their season with a 2–3 loss to
Churchill Brothers. They achieved 2nd position with 22 points in 15 league matches. In August 2022,
Staikos Vergetis was appointed as the new head coach of RoundGlass Punjab. After winning 4–0 against
Rajasthan United on 4 March 2023, the club ensued their I-League title, gaining promotion to the Indian Super League for the first time. They ended the season with 52 points in 22 league matches. RoundGlass Punjab later participated in the
2023 Indian Super Cup. Punjab began their
2023–24 season campaign on 23 September, in a 3–1 away defeat to
Mohun Bagan, in which
Luka Majcen scored club's first ever ISL goal. They secured first league point on 6 October, in an 1–1 tie with
NorthEast United, in their first home match at the
Jawaharlal Nehru Stadium in Delhi. On 19 December, French playmaker
Madih Talal scored a goal, gave Punjab their historic first match win in the Super League as they defeated
Chennaiyin by 1–0 at home. The club achieved their first away win later on 12 February 2024, defeating
Kerala Blasters 3–1 in Kochi. The club registered their biggest win on 10 April defeating
East Bengal 4–1, ended the league campaign with 24 points in 22 matches. In the 2024–25 Indian Super League, Punjab ended their regular season campaign in tenth place, gaining 28 points. On 22 April, the club defeated previous season's runners-up side
Odisha 3–0 in
Super Cup and reached quarter-finals. == Crest, colours & kits ==