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 Tata, former chairman of India’s oldest conglomerate Tata Sons, has died at age 86 in a hospital, his company says

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, chairman emeritus of one of India's biggest conglomerates, Tata Sons, is in critical condition in intensive care at a Mumbai hospital, two sources with direct knowledge of the matter told Reuters on Wednesday.

Ratan Tata, the former chairman of Tata Sons, reassured his followers on Instagram that he's fine after rumors of his hospitalization for low blood pressure spread. He clarified that he is undergoing routine medical check-ups.

Ratan Tata, chairman emeritus of Indian conglomerate Tata Group, said on Monday that he was undergoing age-related medical investigations and that rumours circulating about his health were unfounded.

Ratan Tata said that health rumors about him are unfounded and he is undergoing routine medical check-ups due to age-related conditions.

Ratan Tata has issued a written note to clarify the status of his health. The note says that he is aware of the ‘rumours’ circulating about his health. He has called these claims unfounded and has expressed that he is currently undergoing medical checkups due to ill health.

Reports started doing rounds on social media that the industrialist is 'critical and had to be immediately admitted to the ICU'.