The latest episode of Shark Tank India season two once again witnessed some tension between judges Anupam Mittal and Amit Jain. The latter’s comments to a pitcher also didn’t go down too well with Namita Thapar, who told him not to be ‘harsh’ with them.
On Friday’s episode, Hinshra Manadath Habeeb and Yuba Mohammed Romin Aga pitched their haircare brand and asked for Rs 75 lakh for 2.5 per cent equity. The two women shared how they operate their business while living in two different cities, and also shared in detail their sales and profit model. The judges didn’t look convinced with the business model.
Vineeta found their product prices to be too expensive and she opted out. Namita also refused to invest in their business. Anupam couldn’t find a marketing instinct in them. And then Amit Jain told them they are just wasting their time. He said, “Aap log timepass kar rahe hain (You are just wasting your time),” while adding that their branding is “bekaar (not good).”
Hearing his criticism made Namita tell Amit to not be harsh with the two entrepreneurs. But, he refused. “I want to be harsh. Saath mein aao pehle, phir junoon aayega (First, come together, then there will be passion).”
However, Aman Gupta related with the pitchers and even offered them a deal, but a conditional one. He said, “I didn’t have money when I started. I did consulting business to fund my business and I did it for 3-4 years. Alag sheher mein bhi reh sakte ho (You can stay in different cities).” Aman told Hinshra and Yuba to hire a CMO and offered them Rs 75 lakh for 10% equity. The entrepreneurs tried to negotiate with him and revised their ask to Rs 75 lakh for 7.5% equity. But they had to give in and accept Aman’s offer.
Later, when a lady came with her husband to ask for funding for her wheat flour company, Namita, Anupam and Aman opted out. But Amit and Vineeta extended offers to them. Amit offered Rs 20 lakh for 25% equity and Rs 20 lakh in debt for 12% interest. Vineeta tried to entice the pitchers by offering a better deal than Amit and she said she will give them Rs 20 lakh for 20% equity and Rs 20 lakh in debt at 12% interest.
Eventually, Amit and Vineeta joined hands and gave a combined offer of Rs 20 lakh for 20% equity and Rs 20 lakh in debt at 12% interest. Suddenly, Anupam jumped into the deal and offered the entrepreneurs Rs 40 lakh for 20% equity. He told them that he doesn’t want them to take a loan. The pitchers took his offer and declined Amit and Vineeta’s offer. The entire incident made Amit taunt Anupam, “Yeh toh out ho chuke the, inko interest koi nahi tha (He opted out of the deal and he had no interest in this business).” Anupam ignored his comment.
Shark Tank India is currently airing season two. The first season of the show, which also featured entrepreneur Ashneer Grover on the judges’ panel, was a humongous success. However, Grover didn’t return to the show for the second season.