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Shark Tank India 3: Why did Aman Gupta offer a deal after saying he has no interest in pitcher’s business?
In the latest episode of Shark Tank India, Aman Gupta expresses that he has no interest in the pitcher's business, but he still goes on to invest in the business.
In the latest episode of Shark Tank India 3, three businesses that appeared were a cosmetics band, a design template brand, and a saree brand. The third pitcher is the founder of an online saree store from Himachal Pradesh who left quite an impression on the Sharks. Let’s read on to know if he secured a deal on the show.
Pitcher of saree brand impresses Sharks
Ankush Barjata, the pitcher shares his story of how he came into this business. He reveals his father and grandfather used to work at clothing stores. Later, Barjata mentions his father opened his shop when he was a school student. He then reveals going to study engineering, although wanting to direct movies. Ankush then shares he joined his father's business when he found out his father was suffering losses.
“While working I came in contact with a saree manufacturer. I did all my research on handloom and powerloom sarees. I decided to take a chance and build a bridge," shares the pitcher. He asks for Rs 2 crores for 4% equity at the valuation of Rs 50 crores. Sharks Radhika Gupta, Vineeta Singh, and Peyush Bansal then understand the business and the quality of his products.
Watch promo of the Shark Tank India 3 episode here:
Pitcher reveals not making it on Season 2
The Pitcher also reveals that he had applied for the second season of the show, but things didn’t work out. He also adds that he gave almost one year to the business for trial and error, then built a profitable business. Ritesh Agarwal then asks the pitcher how did he deal with the rejection. Ankush reveals he is a fan of MS Dhoni.
The pitcher shares he had posted a long post on social media when season 2 didn't happen. Aman Gupta asks him to show the post. Ankush then shows a post where he had manifested that he would be on Shark Tank the next year and he was in the tank.
Later, Vineeta and Peyush backed out from the deal. Aman gave an offer, saying, "Mujhe koi interest nahi hai tere saree business mein, par tu banda bohot accha hai toh main tuje ek deal dunga. (I do not have any interest in saree business, but you are a good guy, so I will give you a deal)."
The Shark Tank India 3 offered Rs 20 Lakhs for 5% equity and Rs 1.8 Crore in debt for 10% interest. Ritesh and Radhika joined and the new offer was Rs 75 Lakhs for 5% and Rs 1.25 Crore for 10% equity for 3 years. Ankush gave a counteroffer of Rs 75 Lakhs for 6% and Rs 1.25 cr for 10% equity for 3 years and they closed the deal.
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