MUMBAI: In the most recent episode of Shark Tank India 3, one of the pitchers presented some family and bootstrap enterprises, which wowed the sharks. The first pitch was delivered by a home salon brand. Founders Aditya Arya, Mayank Arya, Akanksha Vishnoi, and Arpit Gupta presented their brand and requested Rs 1.5 crore for 0.5% equity at a valuation of Rs 300 crore.
(Also read: Exclusive: Shark Tank India season 3 to wrap shooting for the show on December 16?)
Following the brand's appearance on Shark Tank India 3, the founders stated that it was bootstrapped. when Peyush Bansal exclaims that this insight has turned his life around, Aman Gupta questions why they are expanding when their competitors are struggling. Peyush concludes that the founders have failed to address customer complaints.
Meanwhile, Ritesh Agarwal revealed that he is collaborating with a rival company. One of the pitchers also claimed that the investors were hesitant to invest in their business. This stunned Shark Radhika Gupta.
Aman and Peyush continue to ask inquiries, discovering that the pitchers rejected the offer since it was not based on the proper appraisal. "I feel like you guys are not Investor-friendly entrepreneurs. You have a reason for every denial. You didn't sell nor agree to return the money to investors," said Aman. Radhika pulled out of the deal.
Sharks Aman, Peyush, and Vineeta Singh meet to discuss the deal. Ritesh follows along and spots him. Vineeta jokes, "Hum kaise believe kar aap jasoos nahi ho?" (How can we think you're not a spy?)"
Following discussions, Aman Gupta says four sharks will come together with their resources for Rs 1.5 crore in exchange for 3% equity and a royalty of 2% of net sales till the Rs 1.5 crore is recovered. The pitchers come with a counter of Rs 1.5 crore based on 1% equity and royalties. The sharks refuse, and the pitchers change it to 2% equity.
Peyush Bansal explains why they took down the pitcher's offer, saying, "The risk in this deal is that we may never see our money coming back."
Vineeta then makes a last offer of Rs 1.5 crore for 2% equity and 2% royalty until Rs 1.5 crore is recouped. Pitchers accept the offer. Aman responds, "Good job, you agreed to the deal." Vineeta says, "I am very excited about this deal." Aman adds, "Me too hopefully money will come back."
(Also read: Shark Tank Season 3 : The Sharks get into a debate as the discuss the interiors of the new season)
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Credit- Pinkvilla
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