Ratan Tata, the former Tata Group chairman who put a staid and sprawling Indian conglomerate on the global stage with a string of high-profile acquisitions, has died, the Tata Group said in a statement late on Wednesday.

NEW DELHI -- Ratan Tata, a former chairman of India’s oldest conglomerate Tata Sons, died at a Mumbai hospital on Wednesday night. He was 86. Tata Sons chairman N Chandrasekaran confirmed Tata’s death and described him as his “friend, mentor, and guide” in a statement.

Ratan Tata, a former chairman of Indian conglomerate Tata Sons hailed as a visionary business leader, has died at a Mumbai hospital