Two-Up Financial Services Limited (BSE:530701) agreed to acquire KDJ Holidayscapes Limited in stock on January 19, 2012. Two-Up Financial Services will exchange one equity share for every 2 equity shares of KDJ Holidayscapes. The transaction is subject to requisite approvals and sanctions may be necessary. The deal has been approved by the Board of Directors of Two-Up Financial Services Limited. On July 24, 2012, the Board of Two-Up Financial Services approved the revised scheme of amalgamation for the merger of KDJ Holidayscapes Limited with Two-Up Financial Services Limited. As per the revised agreement, 108 equity shares of Two-Up Financial Services will be exchanged for every 100 shares of KDJ HolidayScapes Limited. The transaction was approved by shareholders of Two-Up Financial Services on November 17, 2012. As on February 8, 2013, the transaction was approved by the High Court of Bombay. M/s. R. N. More & Associates acted as accountant for Two-Up Financial Services and determined the exchange ratio. Comfort Securities Limited acted as financial advisor to Two-Up Financial Services.

Two-Up Financial Services Limited (BSE:530701) acquired KDJ Holidayscapes Limited for INR 3.3 billlion on March 22, 2013.