‘Tumhara baap kaun hai’: Anupam Mittal gets mad at Ritesh Agarwal on Shark Tank India, defeats him in negotiations

Also read – Anupam Mittal accuses record-setting Shark Tank India pitchers of ‘hiding something’ as they claim to have Rs 1,000 crore worth of orders

Ritesh continued, “Earlier, every store would provide testing services, but later, they set up a centralised testing facility, and pick up centres in different cities. Their profit margin grew disproportionately.” Anupam laughed, and said, “Aap bimaar jooton ki laboratory banayenge.” Ritesh paused, and replied, “Humare yahan vriddhawaste aur bimaar ke aaspaas ke sharks hain, unko bhi saath leke chalenge.” Namita and Vineeta laughed heartily at Ritesh’s joke. But Anupam didn’t seem too pleased. Turning towards Ritesh, he said, “Chalo, aap yeh toh samajh gaye aapka baap kaun hai.”

Ritesh carried on, and offered the entrepreneurs Rs 45 lakh for 5% equity, and the remaining Rs 45 lakh as debt for 10%. Vineeta and Anupam joined hands, and made an offer of Rs 90 lakh, but in exchange of 10% equity. They also asked for 1% in royalties, which gave the other ‘sharks’ an excuse to point out Anupam’s hypocrisy. Anupam is usually the one who scoffs at royalties, and says that asking for them is the equivalent of valuing a company at 0. Kunal repeated this. Namita told the founders to not accept the royalty deal. “It’s very bad for your business,” she said, and Vineeta said, “Hello, I’m also there.”

Anupam said that he is fine with dropping the royalties, but that would also mean dropping Vineeta as a partner on the deal, as she wanted the royalties. The founders began negotiating, but in the process, lost Ritesh’s offer because he sensed that they were leaning towards Anupam. With no negotiating power, Anupam played hardball, and said that he will cancel his offer as well if they don’t agree to 6.5% equity. They did, and they walked away with a deal.