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A young entrepreneur from Kolkata, Pallavi, turned into a ‘shark’ on the latest episode of Shark Tank India, as she found herself fielding pitches from the actual panel. The ‘sharks’ were stunned by her innovative biodegradable plastics business, and fought tooth and nail among themselves to secure a deal with her. “Pallavi, today you are the shark,” Namita Thapar told her, as Pallavi watched the other ‘sharks’ argue among each other for her approval. “Don’t listen to either of them,” Aman Gupta told her, as Anupam Mittal and newcomer Chirag Nakrani had a verbal tussle over who’s more suited to guide Pallavi.
“I have four factories,” Chirag said, “And I can raise more.” Anupam argued that Chirag operates a manufacturing business, whereas he can help her with the innovation. “I’ll give you Rs 1 crore, double what you’re asking for,” he said. Pallavi couldn’t even find a moment to gather her thoughts as the ‘sharks’ fought over her. “Let her think!” Namita said, as Pallavi left the tank for a moment.
She had originally asked for Rs 50 lakh in exchange of 1.5% equity, valuing her pre-money business at Rs 30 crore. She said that she already has deals in place with clients such as Maruti Suzuki and Berger Paints, and that her products can be used to manufacture not just biodegradable plastics, but also paints and emulsions. But the clincher was her claim that her products are a fraction of the cost of others’. Anupam couldn’t contain his excitement. “Amazing articulation, presentation, and poise,” he said, adding, “In the business world, everyone is looking for a panacea, a jaadu ki booti with which you can make a trillion dollars. This happens once in 50 years, like the telegraph, or the radio, or computer chips. This is what you’re talking about, aren’t you? This is not some run-of-the-mill innovation.”
Namita described it as an ‘earth-shattering innovation’, while Aman wondered why people aren’t hunting her down already. Pallavi said that they are. She told the ‘sharks’ that she has already turned down an offer for Rs 10 crore for her patent, because she’s imagining a Rs 1000 crore company in the future. Aman said that she’s absolutely right, and made an offer at the valuation she’d asked for. Anupam, Chirag and Namita also made offers. Pallavi asked them to join hands, but Namita held out, saying that she wants to go solo.
Anupam, Chirag and Aman offered Pallavi Rs 2 crore for 10% equity, but she was insistent that Namita partner up as well. After some nudging, she joined in, and Pallavi closed a four-shark deal at four times the amount she’d initially asked for.
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