DS Kulkarni Developers said on Wednesday that its board of directors approved to offer, issue and allot non-convertible debt instruments in the form of secured, redeemable, non-convertible debentures to the public up to a maximum sum of Rs 2.50 billion (including any right to retain oversubscription for issuance of additional debentures) after complying with the relevant requirements and procedures.

The stock had underperformed the market over the past one month till Apr. 07, 2014, falling 10.38% compared with the Sensex's 1.93% rise.

It underperformed the market in past one quarter, declining 15.53% as against 7.97% rise in the Sensex.

Shares of the company gained Rs 0.05, or 0.08%, to trade at Rs 60. The total volume of shares traded was 6,526 at the BSE (1.05 p.m., Wednesday).