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Shark Tank India 3: Anupam Mittal says Namita Thapar wants to 'secure her supply'; Which deal is he talking about?
In the latest episode of Shark Tank India 3, Anupam Mittal teases Namita Thapar saying she wants to secure her supply from the pitcher. Read the story to know which product he is talking about.
In the latest episode of Shark Tank India 3, Namita Thapar offered a deal to the pitchers of a neon light brand for a special reason. The Shark felt an emotional connection with the pitcher. Besides Namita Thapar, Aman Gupta also offered the pitchers an offer. Read on to know how much they asked for and what their final offer was.
Pitchers introduce business
Two Hyderabad-based brothers Hardik Kedia and Kartik Kedia introduced their brand Neon Attack, which sells premium neon signs and lights for homes, offices and events. Their service also allows individuals to customise personalized neon lights and trendy neon signs, catering to individual preferences and style choices. Their USP is their products use 80 percent less power compared to traditional Neon gas signs and they offer 2 years warranty. Their ask was Rs 75 lakhs for 3 percent Equity.
Check out the promo of the episode here:
As the pitchers continue with their pitch, Namita Thapar pauses them and offers a deal. She says, "Did you notice I've been helping you since the time you have come on the show? The chemistry we have right now, I think is important between a founder and an investor."
This leaves the other Sharks in splits. Vineeta Singh teases Namita and says, "Yahan aake she said I would never do this, par pitch ke baad joh chemistry jami hai. (You had said you’ll never do this, but after the pitch, you’re feeling chemistry.)" Namita also laughs and offers them a deal of Rs 25 lakhs for 1 percent equity + 5 percent Royalty until Rs 1.5 crores is recouped.
The Shark Tank India 3 judge also shares, "My two sons, who are 18 and 13 years old, are the most excited about the game room and in their game room, they have done so many customizations. That is what they are working on. I keep ordering stuff every three months online. I am trying to say that it is a huge trend. Currently, you are only there on WhatsApp and websites and there's a lot you can do in the market, and retail channels. It has a lot of potential."
Anupam Mittal teases Namita and says he's not as fast as Namita in terms of decorating her house and she just wants to secure her supply. He asks the two brothers to explain to him their business and market size. The other Sharks don't agree with the market size Hardik and Kartik suggest.
Anupam Mittal, Vineeta Singh and Amit Jain back out, but Aman Gupta offers them a deal. After hearing Aman making the two brothers an offer, Namita revises her offer and gives Neon Attack Rs 75 lakhs for 6 per cent equity. Later, Aman and Namita introduce royalty in the deal. After much negotiation, the Sharks and Neon Attack closed the deal at Rs 50 lakhs for 2 per cent Equity + Rs 25 Lakhs debts at 2 per cent Royalty until Rs 50 lakhs is recouped.
Shark Tank India 3 airs from Monday to Friday at 10 PM on Sony LIV.
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