The executive director of Emcure Pharmaceuticals, Namita Thapar, made the front page of the newspapers for having denounced her “sharks” comrades during a recent episode of season 4 of Shark Tank India. During the presentation of the Rosha wireless lamp brand, the founders presented the first portable and rechargeable lighting brand in the country.
The founders sought an investment of 60 Lakh ₹ in exchange for 1 percent of equity, valuing their business at 60 crore ₹. The agreement was concluded at 60 Lakh ₹ for 4 percent of equity and 1.5 percent of royalties until 90 Lakh ₹ were recovered.
The marketing director of Boat Lifestyle, Aman Gupta, and the co-founder of Lenskart, Peyush Bansal, congratulated the founders-Kawardeep Singh, Gaurav Tikiya and Shivam Diwan-for the design of the lamps and tried to use the products.
Bansal even asked if the lamps were imported, to which Kawardeep replied that few of their models were imported when they started their business. Shivam also explained how the mother of the CMO of Boat Lifestyle spotted their table lamp in Goa and ordered it and also said that the actor of Bollywood Hrithik Roshan had brought several lamps for the same model.
After listening to the fundamentals of the company, Anupam made an offer of 60 lakh ₹ for 3 percent of capital and a royalty of 1.5 percent of sales until it achieves 1.5 times the amount . Ritesh joined Anupam, increasing the valuation to 4 percent, forcing Namita to withdraw from the agreement.
Anupam, Aman and Ritesh offered 60 Lakh ₹ for 10 percent of equity and 2 percent capital. Thapar then said: “It is exploitation. Anupam told Thapar to this that exploitation is when we are witnessing the show and does not make an offer.
Reddit users supported Namita for denounced Anupam on the flagrant exploitation of the founders. “I respect Namita for supporting the founders and allowed Anupam to check the reality concerning the exploitation,” said a user.
“Namita has gained a little respect today for denouncing Anupam about this exploitation,” wrote a second user.
“Damn, it was a good exploitation. 2 %, worth 30 CR to 10 %, worth 6 CR, it was exploitation as Namita said. Yes, It will not be something enormous, but it was terrible, “said a third user. said.
“Anupam is shit in this program, from the best shark to the worst shark. It gives a valuation of 6 CR to this company which has already sold 8 CR and gives, I think, a valuation of 20 CR to this brand of repair. He gives offers to face and not for the brand, “commented a fourth user.
The three founders opted for Aman Gupta and Ritesh Agarwal.
