Shark Tank India: Aman Gupta Shocked As Pitcher Seeks Valuation Of Rs 240 Crore, Says ‘Hum Pagal Hai Kya?’

In the recent episode of Shark Tank India 4, two entrepreneurs named Devansh Jain and Ackshay Jain introduced sharks to their brand named Culture Circle. They explained how they are turning the apparel sector using an app-based platform. The pitchers asked for Rs 1.2 crore for 0.5 per cent equity. This means that they made a valuation of Rs 240 crore for their company. The valuation left Aman Gupta shocked who instantly said, “Hum pagal hai kya?”

During the pitch, Ackshay revealed that Devansh’s shoes were worth Rs 10 crore. Not just this, they also shared that they had already raised a round of Rs 16.20 crore for their company at the valuation of Rs 80.20 crore.

After the pitch, Kunal Bahl asked pitchers about the amount they have as a balance in their company. To this, Devansh revealed that they have around Rs 17 crore in Fixed Deposits and another Rs 50 lakh add-on.

Surprised by this, Vineeta Singh said, “Then why are you asking for investment? You can give equity for free on the flat round of investment. It is more like you want marketing and you don’t even need to do a deal as you are going 4X the valuation. 200 crore wahiyat valuation.”

Asked if they would reduce their valuation to Rs 80 crore, the pitchers argued that it would be unfair to the former investors. Therefore, Vineeta opted out of the deal.

However, Kunal made an offer of Rs 8 crore for 10 per cent equity. Ritesh also offered Rs 1.2 crore to the pitchers in return for 1.33 per cent equity in their company. Namita Thapar also offered Rs 1.2 crore but in return for 1.2 per cent equity but she also asked for a 0.5 per cent royalty. Aman’s offer was on the valuation of Rs 40 crore.

The pitchers then made a counteroffer at Rs 2.4 crore to 2% equity at Rs 120 crore valuation of their company. Namita changes to 1% equity. Following this, Devansh said, ‘Namita .1% Royalty, air ho jayenge’. This left Aman disappointed who then walked out of the deal and said, “You have not come here for a deal, air hone aaye ho.”