Reconciliation after two divorces

In the situation described in the question, if the two divorces given are revocable divorces (Talaq-e-Raj‘i), then the husband may take his wife back during the waiting period ("iddah). The method of taking her back is that he should verbally tell his wife, “I take you back,” and it is preferable for him to have two witnesses present for the revocation. If the husband engages in marital relations with her during the "iddah, this will also constitute revocation. However, if the `iddah expires and the husband has neither taken her back verbally nor through marital relations, the marriage will come to an end. Thereafter, with mutual consent, they may remarry by fixing a new mahr and conducting a new marriage in the presence of witnesses.

If, however, the two divorces were given as irrevocable divorces (Talaq-e-Ba’in), the marriage will terminate immediately. In such a case, they may remarry by mutual consent, with a new mahr being fixed and a new marriage being conducted in the presence of witnesses, whether during the "iddah or after the "iddah has ended.

It should be noted that whether the husband takes his wife back during the `iddah or they enter into a new marriage, the husband will thereafter have only one remaining divorce at his disposal. In other words, if he gives one more divorce, that divorce, together with the previous two divorces, will amount to a total of three divorces, and the woman will become permanently unlawful for him (hurmat-e-mughallazah).

It is stated in Fatawa Hindiyyah:

“وإذا طلق الرجل امرأته تطليقة رجعية أو تطليقتين فله أن يراجعها في عدتها رضيت بذلك أو لم ترض كذا في الهداية.”

(Kitab al-Talaq, al-Bab al-Sadis fi al-Raj‘ah, Vol. 1, p. 470, Dar al-Fikr)

And Allah knows best.