This paper presents the results of a case-study of an internal coaching intervention aimed at building leadership capacity in a large production company in India. The purpose of the paper is to understand the impact of internal coaching process from the coaches’ perspectives. This research is based on the results of transaction style inventory data of manager-coaches, before and after the coaching journey and a survey conducted with the certified internal coaches. Findings suggest that there are many direct and indirect benefits gained by manager when they act as coach. They reported improvement in their interpersonal skills, listening ability, confidence level, work-life balance and visioning. Empirical results show that there is also improved their effectiveness of the transactional styles. In large organizations, where technical managers reach higher levels of leadership primarily based on their technical competencies, engagement in internal coaching may also help in the development of leadership competencies.