‘Hum aapka business bigaad denge’: Kanika Tekriwal warns Shark Tank India pitchers not to take their deal

Also Read: Anupam Mittal says ‘maaro mujhe’ for rejecting Shark Tank India 5 pitcher earlier, Aman Gupta calls him ‘bad investor’

 

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The founder revealed that since their husbands are in the merchant navy, they decided to be independent, and that’s when this idea came. During the lockdown, they decided to relive this passion and started as an Instagram-based business. In 2022, their Navratri collection went viral, after which they decided to scale the business.

While Anupam Mittal was impressed with their ‘to the point’ pitch, Vineeta and Namita were amazed to learn how they had a team of 120 artisans, 8 people in the core team, and 12 people in the support team, managing to generate a revenue of Rs 4 crores. The founder shared that in 2022-23, they did sales of Rs 69 lakhs with 10.8 percent EBITDA. In 2023-24, their revenue was Rs 1.15 crore at 19.3 percent EBITDA. In 2024-25, they earned Rs 2.25 crores at 11.9 percent EBITDA, and year-to-date their sales were Rs 2.05 crores at 10 percent EBITDA; they projected to close the year with a revenue of Rs 4 to 4.5 crores.

What further impressed the Sharks was their organic reach on social media, which went into millions, and also their 4.5 rating on Amazon.

‘Hum aapka business bigaad denge’: Kanika Tekriwal

Lauding their business, Anupam Mittal told them, “This is so wonderful, we had no idea that in a village like Kosamba, four girls built a Rs 4 crore business and employed 120 women. But if you think again, you can scale this further without an investment. Have you thought through the obligations that come with taking an investment? If you take this money, you will have to make the business worth Rs 100 crores from Rs 4 crores, and return 10-20 times more money to investors.”

He further advised them, “Built it to Rs 20 crore valuation first and then think about scaling it further. I don’t think you need my capital, so I am out.” Kanika Tekriwal also opted out and offered similar feedback. She said, “I am an advisor in a company that empowers women in villages. I want you to meet them. It will help you train other girls in other villages and build your manufacturing base. You don’t need people like us, hum aapka business bigaad denge, we will take away what you are trying to do. Please don’t get stuck in this web of investments.”

 

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Later, Aman went ahead to make an offer. He said, “Bangles have been evergreen. I never saw a brand for bangles, and I think there should be one. I have no idea about this business, but if we don’t help you, then who would we help?” He later asked if Namita or Vineeta would like to join him, and Namita agreed. Namita and Aman offered Rs 75 lakhs for 10 percent equity.

At this point, Vineeta decided to opt out and said, “D2C brands dream of reducing marketing since it leads to their death. It’s a lesson Shark Tank India gives for all brands, especially on Customer Acquisition Cost, which is zero for you. I was thinking of a royalty-based offer, but as an investor and someone who wants to see you win, I think Namita and Aman’s offer is better, so I won’t give my offer.”

With a joint offer from Namita and Aman, the founders request to reduce the equity share. Aman and Namita then demand royalty. Eventually, the deal gets settled for Rs 75 lakhs at 5 percent equity and 1 percent royalty on net sales until Rs 75 lakhs is recouped.

Shark Tank India 5 streams on SonyLiv and Sony TV, every Monday to Friday at 10 pm.