In India, offering water is considered an extremely good deed. Therefore, once upon a time, when packaged drinking water was not available, it was the norm to construct drinking water fountains for public use, particularly in places that saw heavy footfall, to quench the thirst of people and animals.

In Mumbai, such water fountains can be spotted in a number of locations. At a busy road junction in the Fort, the business district in South Mumbai, there is a water fountain memorial, now enclosed in a fence.

A lot of the heritage architecture across Fort is British. But local entrepreneurs and philanthropists have also made significant contributions to the architecture and shaping of the area. This fountain was erected in 1894 by Ruttonsee Muljee, a cotton merchant and a philanthropist, in memory of his late and only son Dharamsee, who passed away in 1889 at the age of 15. A statue of Dharamsee adorns the top of the fountain. He is depicted holding a book because he was fond of books and reading.

The architectural style of the fountain is Indo-Saracenic. It was designed by architect Frederick William Stevens along with John Griffiths, the then principal of Sir Jamsetjee Jeejeebhoy School of Art. The fountain was presented to the corporation of this city for the benefit of the public on January 8, 1894. It underwent restoration in 2017.