Shark Tank India, the Indian version of a popular business reality show, received a unique pitch in its recent episode. Ankush, an entrepreneur from Himachal Pradesh, presented himself in an unexpected attire- a saree. This bold fashion statement immediately grabbed the attention of the “sharks”, the judges of the show.
This unique entrance wasn’t the only thing that impressed the sharks, Ankush showcased his salesmanship as he explained his business model. The judges were also taken by surprise and appreciated that he wore a saree from his collection, demonstrating his belief in his product.
Ankush also shared his connection with the Shark Tank India, he revealed that he’d been rejected from Shark Tank India’s second season. This backstory resonated with some of the judges, particularly Ritesh Agarwal who remarked “Aapne dil jeet liya” (“You’ve won our hearts” in English translation). Aman Gupta, founder of Boats also chimed in with a more casual remark “Yaar tu banda bhut shi hai” (Hindi for “Dude, you seem like a really good guy”)
However, Ankhush was not able to successfully convince with his pitch. Vineeta Sing, another successful entrepreneur acknowledged Ankhush’s potential but ultimately decided to pass on the deal.
While Peyush Bansal decided to go with his gut feeling which wasn’t positive and decided to bow out of the race. He expressed a concern that the entire situation felt “too good to be true”, the same concern might been shared by the viewers as well.
Aman Gupta, Ritesh Agarwal, and Radhika Merchant decided to make offers. Ensuring that Ankush doesn’t leave empty-handed Aman, made a preliminary offer of Rs 20 lakhs for 5% equity, with an additional Rs 1.8 crore in debt financing. Meanwhile, Ritesh and Radhika increased the total investment during the negotiation. After some back and forth a deal was finally made with Ankush securing Rs 75 lakh for a 6% equity stake in his company along with Rs 1.25 core in debt financing.
The episode ended with the judges or sharks debating whether they should have negotiated further. Ultimately, though they decided to finalize the deal with a simple statement “kar lete hain yaar” (Hindi for “Let’s do it, buddy”)
This episode highlighted the importance of a strong pitch and personal connection on Shark Tank India. Ankhush’s bold attire may have sparked the initial conversation, but it was his passion and belief in his business that ultimately won over the sharks. Though it was not the exact outcome Ankush had hoped for, the involvement of the Sharks will offer valuable insights and strategic guidance that will propel his business forward.
Shark Tank India has become a popular platform for aspiring entrepreneurs in India and Ankush’s story, with its unconventional pitch and negotiated outcome, serves as a reminder that success on the show requires a combination of passion, preparation, and the ability to adapt to the unpredictable nature of securing investments.
