New Delhi: The audience for ‘Shark Tank India 3 has been seeing a lot of compelling pitches and investments by sharks. In one such recent pitch, two brothers from Bengaluru brought their chewing gum and highlighted its health benefits on behalf of a confectionary business. They demanded Rs 50 lakhs in exchange for 5% ownership. Though intrigued by the product and proposal, the Sharks had some legitimate concerns.
Anupam Mittal praised them for a feature they curated with the chewing gum, while Aman Gupta, who was particularly interested in the pitch, had worries about the product's packaging. In the end, Aman offered to pay Rs 50 lakhs for 5 percent equity and 5 percent royalties on net sales up till the loan was paid back. The pitcher made light of Aman Gupta's green suit by playfully comparing him to saunf (fennel), while other Sharks, including Ritesh Agarwal, Vineeta Singh, and Anupam Mittal, also made aggressive bids.
When boAt CEO was called 'Saunf'
Anupam joined Aman and Ritesh in their offer, and the other Sharks laughed heartily about it. Namita Thapar said, "Itni mehengi saunf (such expensive fenel)". With 10 percent ownership and a 5 percent royalty on net sales till the money is recovered, the amended offer was for Rs 50 lakhs. Aman even proposed to serve as their on-the-spot taster. In contrast, Vineeta made a one-off offer of Rs 50 lakhs in exchange for 5% equity and 5% royalties on net sales up till the loan is paid back.
After that, Vineeta praised Anupam Mittal for his inquiry as the pitchers requested him for advice on how to handle the demand for royalties. At last, four of the pitchers together received a final offer. The deal was finalized for Rs 80 lakhs, which included 10% stock and 4% royalty.
"Saunf udke aa rahi hai," the pitcher laughed once more as Aman approached them holding a cheque.
'Shark Tank India Season 3' streams on Sony LIV at 10:00 PM everyday.