Africa-Press – Mauritius. Adani buys NDTV” — This 4-worded tweet from a popular Indian journalist’s Twitter handle, posted at 5:41 PM IST on August 23, 2022, is arguably the first piece of information about the acquisition that came out in the public domain.
When the initial hullabaloo tapered, several financial experts and market analysts came out stating that the piece of news did not strike as a big surprise to them.
The very same Tuesday night and the following morning saw another series of reports quoting CreditSights, a unit of credit rating agency Fitch, that said the Adani Group is “deeply over leveraged” and may, “in the worst-case scenario, overly ambitious debt-funded growth plans could eventually spiral into a massive debt trap”.
Is the Adani Group over-leveraged? Well, going by the CredSights data, it is. But the question on a possible ‘debt-trap’ scenario cannot be predicted as Gautam Adani has a history of “churning out strong and stable companies” through its flagship Adani Enterprises Ltd, the Indian Express said quoting a Bloomberg report.
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