Shark Tank India’s fourth season recently delivered a high-voltage moment that had both the Sharks and the audience on edge. The episode featured Rosha, a brand specializing in wireless lamps, founded by old school friends Kawardeep Singh, Gaurav Tikiya, and Shivam Diwan. Their innovation lies in being India’s first portable and rechargeable lighting brand. With over 100 designs already on offer, they revealed plans to venture into solar-powered wireless lamps.
The trio walked in seeking ₹60 lakhs for 1% equity, valuing their company at ₹60 crores. They emphasized their brand’s premium quality, with half of their products made in India and celebrity endorsements, including Hrithik Roshan. Adding a personal touch, they shared a story about Aman Gupta’s mother purchasing one of their lamps, which she had praised for its aesthetic and functionality.
While the Sharks appreciated the sleek designs, the conversation quickly turned intense. Anupam Mittal was the first to challenge them on their valuation and unique selling proposition. He questioned whether the business model, especially its B2B focus, could drive sustained profitability. Namita Thapar echoed concerns about the steep valuation, expressing doubts about its justification.
The negotiations began with Anupam offering ₹60 lakhs for 3% equity and a 1.5% royalty on sales until his investment returned 1.5 times. Shortly after, he joined forces with Ritesh Agarwal, raising the equity demand to 4%. Aman Gupta entered the fray, proposing ₹60 lakhs for 2% equity and a 1% royalty. Anupam immediately matched Aman’s terms, setting the stage for a tense showdown.
Anupam after so much negotiation offers a surprising deal of ₹60 lakhs for 10% equity. Namita, unhappy with the unfolding deals, labelled the offers exploitative. Her statement triggered a sharp response from Anupam. He countered her critique, “Exploitation is when you sit on a tank and don’t give an offer.” Their disagreement became heated as Namita insisted the terms undervalued the pitchers’ potential, while Anupam defended them as fair for the investment risk involved.
The drama reached its peak when the pitchers suggested Aman could proceed alone. This remark struck a nerve with Anupam, who felt disrespected. He exited the deal, visibly upset, saying, “You talk about respect, yet propose something Aman can handle solo. That’s the ultimate disrespect. Even if you offer me equity for free now, I wouldn’t take it.”
With Anupam out, Ritesh and Aman regrouped, presenting a final offer: ₹60 lakhs for 5% equity and a 2% royalty. Despite some hesitation, the pitchers found themselves circling back to Anupam’s original terms, though this time without his involvement. After further deliberation, the founders closed the deal with Aman and Ritesh, describing them as their dream team.
The episode showcased the complexities of high-stakes negotiations, where business strategy, personal dynamics, and egos intersect. For Rosha, it was a significant milestone, securing funding and mentorship to fuel their ambitions. For the Sharks, it was a reminder of how quickly alliances can shift in the tank.