The latest episode of the business reality show 'Shark Tank India 3' featured Anand Nahar and his brother Amrit pitching their fast food brand 'Zorko.' In a surprising turn, Anand revealed that he had previously tried to invest in OYO and even sent a personal email to Ritesh Agarwal, the founder and CEO of OYO Rooms. Anand shared his journey of reaching out to OYO, but his attempts were unsuccessful.
Despite the interesting backstory, eyebrows were raised when the brothers asked for Rs 1.5 crore for one percent equity in their fast food business. Aman Gupta and Ritesh Agarwal offered Rs 20 lakh for one percent equity and Rs 1.3 crores in debt at 10 percent interest for three years. However, the brothers countered with an offer of 100 hours for one percent equity plus Rs 1.5 crore in debt at 10 percent interest for three years.
Aman Gupta clarified that he couldn't commit to advisory hours but expressed willingness to support them and provide guidance. The sharks gave a second offer, which was one percent advisory equity plus Rs 1.5 crore debt at 10 percent interest for three years. The brothers countered again, offering 50 hours for one percent equity plus Rs 1.5 crore in debt at 10 percent interest for three years.
Despite securing a deal from the sharks Ritesh Agarwal and Aman Gupta, the brothers' counter-ask for committed advisory time left Aman frustrated, leading him to tear the cheque in response to their indecisiveness. Ritesh Agarwal also got frustrated and opted out of the deal. The episode showcased the challenges and negotiations that entrepreneurs face when seeking investments on the show 'Shark Tank India 3.'
(With Agency Inputs)
