It was erected by the Agri-Horticultural society of Western India out of a donation of Rs 20,000 by Cursetjee Fardoonjee Parekh. Designed by R. Norman Shaw, it was sculpted in imported Portland stone by James Forsythe. It now wears a white coat of oil paint.
Flora Fountain was originally to be named after Sir Bartle Frere, the governor of Bombay at the time. However, the name was changed before the fountain was unveiled. It stood at the approximate center of town.