India, Oct. 3 -- Snapdeal parent AceVector's initial public offering (IPO) provided an exit opportunity to several of its early investors and promoters, with SoftBank-backed Starfish I Pte Ltd emerging the biggest beneficiary of the offer-for-sale (OFS) component.

At the issue price of Rs.32 per share, Starfish I, a SoftBank entity and the company's largest shareholder, raked in about Rs.88.3 Cr by selling 2.76 Cr shares, representing about two-thirds of the total OFS proceeds. The transaction represents an 0.08X return multiple on the shares being sold, according to AceVector's red herring prospectus (RHP).

Starfish will continue to hold 11.3 Cr shares, valued at about Rs.361.8 Cr at Rs.32 apiece, after the IPO.

AceVector's Rs.420 Cr ...