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 (Reuters) - Ratan Tata, the chairman emeritus of one of India's biggest conglomerates, Tata Sons, is in critical condition and in intensive care in a Mumbai hospital, two sources said on Wednesday. Tata, 86, said on Monday he was undergoing routine medical investigations due to his age and related medical conditions.

Ratan Tata—a former chairman of Tata Group who led the Indian megacompany through multiple significant international acquisitions—died at age 86, the group announced Wednesday. Tata took over the conglomerate in 1991 and led it for 21 years.