News Snapshot:
Ltd., one of the seven listed units of Gautam Adani’s ports-to-renewables empire, has seen its debt-to-equity ratio balloon to the second-highest in Asia, raising alarm over whether the billionaire’s aggressive expansion plans has over-leveraged his businesses. The Gujarat-based company’s debt-to-equity ratio of 2,021% is only behind China’s Datang Huayin Electric Power Co., which has a ratio of 2,452%, among 892 listed companies in Asia, according to data compiled by Bloomberg. Adani Green Energy is the most leveraged of the companies in the tycoon’s empire by this metric as it takes on debt to fund the conglomerate’s $70 billion pivot toward...
