India Digest: Fullerton opts out of PNB race; Airtel, SBI in stake sale; Jet Airways gets $300m

Fullerton Financial has opted out of the race to acquire PNB Housing Finance as the surge in stock prices has made the deal expensive while Bharti Airtel has been granted approval to sell its 15 per cent stake in DTH arm Bharti Telemedia to a Warburg Pincus affiliate. Meanwhile, State Bank of India has proposed to sell 3.89 per cent stake in NSE as part of its capital raising exercise. In another development, Jet Airways has received a liquidity support of $300 million.