In a surprising twist on Shark Tank India Season 3, Aman Gupta, co-founder of boAt and one of the “sharks,” was seen tearing up his check after making a deal offer to two brothers. This unexpected moment occurred in episode 7 of the show, where Aman Gupta not only tore up the check but also backed out of the deal, saying, “Bhai tu mujhe maaf kar,” to the pitchers.
Aman Gupta Tears Cheque After Making An Offer To Pitchers
The brothers, Anand Nahar and Amrit, presented Zorko, their fast-food brand, seeking ₹1.5 crore for a 1% equity stake. Zorko, founded in 2016, boasts an impressive record of establishing 150 outlets in just 17 months without external funding, offering a diverse menu with over 80 food items. This restaurant chain provides a diverse menu with over 80 food items, including pizza, sandwiches, burgers, toast, momos, milkshakes, and more, sure to whet your appetite instantly.
They sought ₹1.5 crore for a one percent equity stake. The sharks tried their vegetarian food, found it appealing, and then asked the brothers several questions about their business.
After the pitch, OYO’s CEO, Ritesh Agarwal, and bOAT’s CMO, Aman Gupta, offered ₹20 lakh for a one percent equity stake and ₹1.3 crores as debt at 10 percent interest for three years. The brothers countered with an offer of 100 hours of advisory time for one percent equity, along with ₹1.5 crores as debt at 10 percent interest for three years. Aman Gupta declined committing to such hours but expressed support for the brothers, stating they could discuss further with him and his team.
On the other hand, Ritesh Agarwal said: “I don’t have a problem in committing hours, you can take 20 hours of commitment from me, but from Aman’s side you have to put your trust and believe him”.
At this point, the sharks pressed the brothers for a decision, emphasizing Aman Gupta’s commitment to advisory time. After a brief discussion, Aman tore the cheque and withdrew the offer.
Frustrated, Aman also folded his hands and said, “Bhai tu mujhe maaf kar” (Brother, forgive me). Following this, Ritesh Agarwal also withdrew, mentioning that the brothers seemed indecisive.
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