While they describe their business module, Anupam Mittal says that they are not in the market and all this info is available on social media. He says, “You haven’t reached the rural area, where the real problem lies.”
Peyush Bansal makes an offer to help them and they accept the deal at – Rs 10 lakh for 1% equity and Rs 60 lakh at 10% interest. Their original ask was Rs 70 lakh for 1% equity.
The second pitchers are from a healthy snacking brand. Pranav and Karan Korke ask for Rs 50 lakh for 5% equity.
Vineeta appreciates their product and pricing. The Sharks are mighty impressed with the health perspective of the products. Peyush asks them if they ever have disagreements and how Pranav would react if Karan doesn’t perform. Pranav stands up for Karan and narrates a story of how once at 1am he sold off a carton of their products to a shop. He says, “He is a very good salesman.”
Peyush matches their offer and wishes Aman to join him. He says, “Aman’s knowledge in D2C will be helpful for your brand.” Peyush further says, “Aap bahut badhiya entrepreneurs ho. It’s at early stage at losses and we might have to invest more. I am willing to go more. If you want Rs 1 crore, I am willing to give you for 10% equity.” Other Sharks are surprised. Aman agrees to join Peyush and the deal is confirmed.
Aman tells the pitcher, “Jab Saturday party kare toh chips free honge. Kab tak wahi banana chips khilaye.” (For the unversed, they had invested in a banana chips brand in the first season)
The next pitchers – Puneet Sehgal and Shaan Shah are from a fashion brand catering to denim products. They up the energy with an entertaining entry. They ask Rs 70 lakh for 1% equity. Shaan shared that he had thought of this business soon after being out of college. He started with his business with the help of his business. During a business acquisition Shaan met Puneet and they formed this brand. They have commitments of Rs 4 and half crore. While breaking down the sales, their losses come to the forefront. Anupam calls their product messy like their business. He says, “I am not going to invest in a company for the past, I am going to invest money for the future.”
The pitchers try to convince the Sharks with their vision. Vineeta offers a deal – Rs 50 lakh for 2.5% equity and Rs 20 lakh debt at 12% interest with the condition that this investment will be a part of a bigger investment round. The pitchers wish to bring the equity to 2%. They finally agree to the deal.
