New Delhi, Sept. 2 -- Masayoshi Son's SoftBank Group Corp. is offering to sell 70 million shares in Indian e-commerce platform Meesho Ltd through a block deal on Thursday, according to a term sheet reviewed by Mint.

The seller, SoftBank-affiliated SVF II Meerkat (DE) LLC, is offering a 1.5% stake in the Vidit Aatrey-led company, with the floor price for the shares being set at Rs.205 rupees per share, representing a 3.1% discount to Meesho's closing price of Rs.211.60 on 2 September on the National Stock Exchange.

At the floor price, the total deal is worth about Rs.1,435 crore (around $151 million).

BofA Securities India Ltd and J.P. Morgan India Pvt Ltd are serving as placement agents for the transaction. The term sheet specifies a 6...