The Board of the e-commerce giant Snapdeal will send details of the buyout proposal received from rival Flipkart to all its shareholders, seeking their comments, according to The Hindu.

Snapdeal counts Ratan Tata, PremjiInvest, Ontario Teachers’ Pension Plan, Foxconn, Temasek and BlackRock among its many investors.

Flipkart, it is learnt, offered between $900 million-$950 million for Snapdeal, after its earlier bid of $800 million-$850 million was rejected on grounds that it under-valued Snapdeal. Once the comments and feedback from the investors are received, the Board will consider the buyout proposal for approval.

According to LiveMint, the sale of Snapdeal to Flipkart could be the biggest ever in India’s start-up ecosystem, concluding months of back-and-forth between the two companies.