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, 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.

Ratan Naval Tata, veteran industrialist and Tata Group’s chairman emeritus, passed away at a Mumbai hospital due to age-related health conditions. He was 86. The Padma Vibhushan awardee breathed his last at south Mumbai’s Breach Candy Hospital at 11.