In the episode of Shark Tank India 2, on 2nd February 2024, Shark Amit Jain gets into a fierce battle of words over a deal with the other sharks.
Highlights
Shark Tank India Season 2
The second season of Shark Tank India premiered on Sony TV on 2nd January 2024. The show airs from Monday to Friday at 10 PM IST. Shark Tank India is an Indian adaption of the most, famous American show of the same name which has gained immense popularity.
The format of the show is simple where a panel of sharks evaluates the pitches made by aspiring and potential entrepreneurs and makes a decision whether to invest in their company or not based on their offer, the process of the deal keeps the audience hooked.
The show is hosted by the stand-up comedian Rahul Dua, and the panel of investors is Namita Thapar (Executive director of Emcure Pharmaceuticals), Vineeta Singh (Co-founder and CEO of Sugar Cosmetics), Aman Gupta (Co-founder and CMO of Boat), Peyush Bansal (Co-founder and CEO of Lenskart) and Anupam Mittal (Founder and CEO of Shaadi.com- People Group).
Amit Jain (Founder and CEO of Car Dekho group and Insurance Dekho.com) marks his debut in the show as an investor by replacing the season one fame Ashneer Grover.
Amit Jain in a fierce battle of words
On 2nd February 2024, the episode of Shark Tank India started with pitchers Anitha, Prajal and Divyansh introducing their brand ‘GeeAni’, an electronic tractor brand for agricultural purposes. GeeAni manufactures electronic tractors that are compact in size and primarily benefit the farmers who operate their activities on a small scale, as small-scale farmers cannot afford tractors and GeeAni sells their tractors at a very affordable price i.e., lower than the market price.
The name of the brand GeeAni is a combination of the names of the pitcher’s late real mother, Geeta and Anitha, who takes care of him as his mother. The pitch amazed the sharks from an investment point of view and also carried them emotionally. All the sharks were seen enjoying taking a ride on the tractor driven by Aman Gupta singing the most patriotic song ‘Mere Desh Ki Dharti’.
After the emotional and interesting pitch, Aman Gupta agreed to offer an investment matching the deal by the original ask of Rs 75 lakhs for 7.5% equity. Namita Thappr was out of the deal as she believed that the company would require more cash in the future and she could not help them further, leaving the other four sharks Anupam Mithal, Aman Gupta, Vineeta Singh, and Amit Jain in the battle of investment.
Anupam Mittal countered the offer by offering 1 crore at 10% equity by requesting the sharks to join the deal and Aman Gupta immediately agreed with Anupam. However, shark Amit Jain was requested to join the other three sharks but he was adamant to offer an independent deal by offering 1.5 crores for 20 % equity.
There was a fierce battle of words between the sharks as giving a 20% of the company to an investor was a huge risk. The pitchers getting baffled by the offers requested the sharks for some time.
Amit Jain stated: “Take your time and think very carefully as I belong to this industry of cars and I can help you in every way possible.” on the other hand Aman Gupta said: “Yes think very carefully” while Vineeta mocked Amit stating; “Do not go for 20% equity”.
After the pitchers came back, Amit Jain matched the offer of the three sharks of Rs 1 crore at 10% equity still trying to convince the pitcher about his background where once again he was mocked by Aman Gupta and Anupam Mittal.
Later on, the deal was closed by the pitchers on the combined deal offered by the sharks Aman Gupta, Anupam Mittal, and Vineeta Singh for 1 crore at 10% equity.
After the deal was locked, Amit Jain commented, “I think you have made a wrong decision”, and Aman Gupta replied saying “Don’t take Amit he is very ladaaku.”
Since Amit Jain joined the Panel of Shark Tank India season 2, he is always indulged in some or other heated arguments with the sharks during a deal because of the difference in his opinion.
