Zhongmin Guoen Industrial Group (UK) Limited entered into a share purchase agreement to acquire a 45.65% stake in Thirdwave Financial Intermediaries Limited (BSE:531652) from Prudent Management & Industrial Consultats Pvt Ltd, Patriach Developers Pvt Ltd and Siddhant Agarwal for INR 17.1 million on June 30, 2020. Zhongmin Guoen Industrial Group (UK) Limited will acquire 1.0078 million shares of Thirdwave Financial Intermediaries Limited at a price of INR 17 per share. As a part of transaction, Siddhant Agarwal will sell 6.75% stake representing 0.14891 million shares, Patriach Developers Pvt Ltd will sell 31.79% stake representing 0.70189 million shares and Prudent Management & Industrial Consultats Pvt Ltd will sell 7.11% stake representing 0.157 million shares in Thirdwave Financial Intermediaries Limited. Post transaction, Siddhant Agarwal, Patriach Developers Pvt Ltd and Prudent Management & Industrial Consultats Pvt Ltd will not hold any stake in Thirdwave Financial Intermediaries Limited. In a related transaction, Zhongmin Guoen Industrial Group (UK) Limited made an offer to acquire a 29.35% stake in Thirdwave Financial Intermediaries Limited from public shareholders for INR 11 million on June 30, 2020. Transaction is subject to approval from Department for Promotion of Industry and Internal Trade, Government of India and satisfaction of other conditions precedent. Zhongmin Guoen Industrial Group (UK) Limited completed the acquisition of 45.65% stake in Thirdwave Financial Intermediaries Limited (BSE:531652) from Prudent Management & Industrial Consultats Pvt Ltd, Patriach Developers Pvt Ltd and Siddhant Agarwal on October 20, 2021. On September 17, 2021, Department for Promotion of Industry and Internal Trade denied the approval for the transaction and consequently parties decide to terminate the transaction.