Emcure Pharmaceuticals executive director Namita Thapar is in the news for calling out her fellow ‘sharks’ during a recent episode of Shark Tank India season 4. During the pitch of wireless lamps brand Rosha, the founders presented the country’s first portable and rechargeable lighting brand.
The founders sought an investment of ₹60 lakh in exchange of 1 per cent equity, valuing their company at ₹60 crore. The deal was done at ₹60 lakh for 4 per cent equity and 1.5 per cent royalty until ₹90 lakh is recouped.
boAt Lifestyle CMO Aman Gupta and Lenskart co-founder Peyush Bansal complimented the founders — Kawardeep Singh, Gaurav Tikiya, and Shivam Diwan — for the design of the lamps and tried using the products.
Bansal even asked whether the lamps were imported, to which Kawardeep said that few of their models were imported when they started the business. Shivam also said how the boAt Lifestyle CMO’s mother spotted their table lamp in Goa and ordered it and also claimed that Bollywood actor Hrithik Roshan brought multiple lamps for the same model.
After listening to the business fundamentals, Anupam made an offer of ₹60 lakh for 3 per cent equity and a royalty of 1.5 per cent of sales till he makes 1.5x of the amount. Ritesh joined Anupam, hiking the valuation to 4 per cent, causing Namita to back out of the deal.
Anupam, Aman and Ritesh offered ₹60 lakh for 10 per cent equity and 2 per cent equity. Thapar then said: “This is exploitation.” To this, Anupam told Thapar that exploitation is when one sits on the show and does not give an offer.
Reddit users backed Namita for calling Anupam out on the blatant exploitation of the founders. “Respect for Namita for supporting the founders and gave reality check to Anupam regarding exploitation,” a user said.
“Namita earned a little respect today for calling Anupam out on the exploitation,” a second user wrote.
“Bloody hell, that was proper exploitation. frm 2%, valuing at 30 cr to 10 %, valuing at 6 cr was exploitation like Namita said. yes, it won’t be something huge, but that was terrible,” a third user said.
“Anupam is shit on this show from the best shark to to wrost shark He give 6 cr valuation to that business who is already done 8cr sell And give I think 20cr valuation to that patch up brand He is giving offers to face not brand,” a fourth user commented.
The three founders went for Aman Gupta and Ritesh Agarwal.
