New Delhi, May 11 -- Early investors in Billionbrains Garage Ventures Ltd, the parent company of Groww, are set to offload shares worth up to Rs.4,750 crore ($498 million) through a block deal on Tuesday, according to a term sheet reviewed by Mint.

The proposed transaction involves the sale of up to 268.4 million shares, representing around 4.3% of Groww's existing total outstanding shares, through one or more on-market transactions on Indian stock exchanges.

The floor price for the sale has been set at Rs.177 per share, reflecting an 8.5% discount to Groww's closing price of Rs.193.52 on the National Stock Exchange on Monday.

The sellers in the transaction include Peak XV Partners Investments VI-1, Sequoia Capital Global Growth Fund I...