Peyush Bansal breaks Shark Tank India record by offering Rs 5 cr deal to brand compared to Sabyasachi, angry Aman Gupta says: ‘Tu kyu ghusa?’

Shark Tank India 4: Peyush Bansal didn't think twice before offering Rs 3 crore to a brand called NOOE; their initial ask was just Rs 50 lakh.

By: Entertainment Desk

New Delhi | January 9, 2025 12:16 PM IST

4 min read

Peyush Bansal in the fourth season of Shark Tank India.

More drama unfolded on the third episode of the fourth season of Shark Tank India, with Peyush Bansal breaking the show’s record by investing Rs 5 crore in the lifestyle and accessories brand NOOE. Founded by two entrepreneurs, Piyush and Neetika, the brand creates high-end products utilising a “Japandi” aesthetic. The panel of ‘sharks’, which included Anupam Mittal, Vineeta Singh, Aman Gupta and this season’s newcomer Kunal Bahl, were all impressed by the quality of NOOE’s products. But they were unconvinced by the business operations. Piyush and Neetika asked for Rs 50 lakh in exchange of 1% equity, seeking a valuation of Rs 50 crore.

The entrepreneurs said that they have presence at the iconic British retail store Harrod’s, but further questioning revealed that they aren’t making much money through this deal. Piyush said that their margins are erased simply by the costs they incur to ship their products to the UK. Vineeta even suggested that they could become the next Sabyasachi. All five ‘sharks’ were interested in knowing more about their pricing, and Anupam let out an audible gasp when Piyush said that they sell a product worth Rs 15,000 in India for around Rs 40,000 in Harrod’s.

Also read – Aman Gupta loses cool after catching Shark Tank India pitcher whisper ‘air ho jayega’ during bidding war, butts heads with Kunal Bahl

The ‘sharks’ were further dejected to learn that the founders have just Rs 22 lakh in the bank, and debts of over Rs 1.2 crore. They also realised that in investment in NOOE would require a ‘clean-up’ first. Aman made it clear that the designs are excellent, and said that Piyush is the reason why the brand hasn’t been able to grow at the level it should have. When it was pointed out that they’re surviving ‘hand-to-mouth’ at the moment, Anupam suggested, “Why don’t you ask for more money?” Aman retorted, “Aap dete nahi (As if you’d give them more).”

But he was interested in making an offer, after Kunal, Anupam and Vineeta backed out. He asked for a 50% stake in the company, and said that he is willing to ‘raise the cap table’. Aman offered the founders Rs 3 crore, instead of the Rs 50 lakh that the founders had originally asked for. Peyush also showed interest, but asked for a ‘controlling stake’ of 51% in the company. He said that he is also willing to offer Rs 3 crore, but admitted, “Maine zyada socha nahi hai (I haven’t thought it through yet).” The founders were dead against handing over the reins of NOOE, and took a moment to consult each other. Meanwhile, Aman revised his offer to Rs 2 crore in exchange of 30% equity.

The founders said that they couldn’t accept these terms, because they would essentially be reduced to employees in their own company. But they said that they admire Peyush’s willingness to put his own skin in the game. After Aman backed out, it seemed as if the pitch had come to an end, but Neetika nudged her partner to present a counter to Peyush. They asked if he’d be willing to put in Rs 5 crore, and they agreed to give away a controlling stake in the company to him. Aman was aghast at the deal, even as Peyush assured them that they had made the right decision. As the founders left, he told Neetika that she should reach out to him in case she wants a job in the future.

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