Graciously acceding to the earnest desire of the Sarswats of Mulki to have a temple of their own Parama Pujya Krishnashram Swamiji laid the foundation stone on Dec 1, 1853 and the pratishtha was done in March 1854 (Phalgun bahula tritiya, Pramadi Samvatsar).
The Shivalinga consecrated here is said to be saptavarni (seven-coloured) and many miracles have been experienced by devotees worshipping it.(Over the last century and a half a lot of renovation work has been done here, but the number of local Saraswat families has dwindled drastically).