Anupam Mittal suspects a scam after discovering Shark Tank India pitcher is sitting on Rs 100 crore wealth, loses patience after being ignored

When the founders, who hail from Gujarat, told the ‘sharks’ that their parents operate a trading business, Anupam’s ears perked up. “How much equity do you have in that business?” he asked the CEO, Hiren. The founder told him that he has 30% equity in that business, and that the business is worth Rs 300 crore. “Yahoo!” Anupam exclaimed. “Is it that you are simply selling the surplus stock from that business here at discounted rates?” he asked, and Hiren replied, “Absolutely not. Our products are 100% fresh, the designs are all new.”

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Anupam seemed to be convinced. He said, “I thought there was something fishy, but it seems to me that you’re being honest and transparent.” He was determined to close a deal after the founders told the panel that they are expected revenue to touch Rs 500 crore within three years. Anupam, Aman, and Peyush all made offers, and immediately revised them the second that one of them lowered theirs. When the founders asked if all three of them could join hands for 3% equity, Anupam refused. He took Aman aside for a chat, which seemed to annoy Peyush.

“It seems like they don’t want to make a deal with me, it’s getting political, and I don’t want to be a part of this,” he said, while Anupam assured him that this wasn’t the case. Meanwhile, the founders made it clear that they were more interested in Peyush and Aman, which annoyed Anupam. “I’m out,” he yelled, refusing to participate in further negotiations. Aman convinced him to put his ego aside and close the lucrative deal. In the end, all three of them bargained hard, and closed at 4% equity.