Shark Tank India 2: Pitcher turns down Rs 1.5 crore offer, vows to return after justifying Rs 100 cr valuation

Shark Tank India 2: Four sharks joined hands for a high-stakes deal, but the founder backed out.

Bengaluru | January 19, 2023 09:55 AM IST

3 min read

Shark Tank India 2: The latest episode had some interesting pitchers. (Photo: inside_fpv/Instagram)

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The latest episode of Shark Tank India 2 featured a bunch of interesting pitches. From a drone brand founded by college students to a pharma brand, the episode had its share of dramatic pitches and discussions. The episode began with college students Oshi Kumar, Arth Choudhary, and Deyvant Bharadwaj making a dynamic pitch for their drone brand, asking for Rs 75 lakh in exchange for 4% equity.

While the trio explained their business model, the ‘sharks’ asked if they could operate the drones to test them out. Anupam Mittal was the first one to back out of the deal and said that this is a highly competitive market with big players. After Amit Jain enquired more about the project, Peyush Bansal and Aman Gupta made an offer of Rs 50 lakh (Rs 25 lakh each) in exchange for 20% equity and Rs 25 lakh in debt (Rs 12.5 lakh each) without any interest.

Namita Thapar and Amit Jain also made a combined offer of Rs 75 lakh without any loan, in exchange for 15% equity. The trio made a counter-offer and asked all four sharks to invest at 5%. The sharks agreed at 15% equity and the deal was finalised.

The second pitch featured on the episode was for an all-sizes-included clothing brand. Founders Asana Riamei and Vishakha Bhaskkar asked for Rs 40 lakh for 5% equity.

While Anupam Mittal, Aman Gupta, Peyush Bansal and Namita Thapar opted out of the deal, Amit Jain made an offer of Rs 40 lakh, but for 20% equity. They closed the deal.

The third pitch was a snack and food products brand. Founders Lokendra and Nishu Tomar’s asked for Rs 1.5 cr for 1% equity. While Anupam was the first one to opt out of the deal, Peyush, Aman, Amit and Namita give a joint offer of Rs 1.5 crore for 20% equity.

Lokendra refused the offer as his valuation is for Rs 100 cr and he didn’t want to share more than 1% of their equity. He said, “I will reach that level of Rs 100 cr valuation and then come back.” Shark Tank India 2 airs on Sony TV and streams on Sony LIV.

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