<p>Indian conglomerate Adani Group, owned by billionaire Gautam Adani, said on Thursday that it does not have any plans to enter the country's telecom sector.</p>.<p>Adani, the world's third-richest man according to Forbes, has been diversifying his empire from ports to energy to now owning a media company.</p>.<p>However, the Adani Group has stayed away from India's telecom sector, where rival Mukesh Ambani's Reliance Industries' unit Jio became a dominant player by offering low-cost services since its debut in 2016.</p>.<p>"We have no plans or ambitions in telecom," Jugeshinder Singh, Adani Group's chief financial officer, said at a press conference in Mumbai.</p>.<p><strong>Also read | <a href="https://www.deccanherald.com/business/business-news/gautam-adani-says-regrets-not-completing-college-education-1179054.html" target="_blank">Gautam Adani says regrets not completing college education</a></strong></p>.<p>Adani Enterprises' unit Adani Data Networks purchased airwaves worth nearly $27 million in the country's 5G auction last year.</p>.<p>However, at the time, the company has said it does not plan to offer consumer services and is instead aiming to enter the private 5G network space.</p>.<p>The conglomerate's aggressive expansion into sectors such as cement and healthcare has also raised concerns over its elevated debt levels, while its large promoter shareholding has also come under scrutiny.</p>.<p>Its proposed mega $2.5 billion follow-on public offering (FPO), which launches later this month, will be used for capital expenditure and to pay off debt at its units, the company has said.</p>.<p>"... (We are) doing the FPO to bring in new shareholders; wanted to expand shareholder register," Singh said.</p>
<p>Indian conglomerate Adani Group, owned by billionaire Gautam Adani, said on Thursday that it does not have any plans to enter the country's telecom sector.</p>.<p>Adani, the world's third-richest man according to Forbes, has been diversifying his empire from ports to energy to now owning a media company.</p>.<p>However, the Adani Group has stayed away from India's telecom sector, where rival Mukesh Ambani's Reliance Industries' unit Jio became a dominant player by offering low-cost services since its debut in 2016.</p>.<p>"We have no plans or ambitions in telecom," Jugeshinder Singh, Adani Group's chief financial officer, said at a press conference in Mumbai.</p>.<p><strong>Also read | <a href="https://www.deccanherald.com/business/business-news/gautam-adani-says-regrets-not-completing-college-education-1179054.html" target="_blank">Gautam Adani says regrets not completing college education</a></strong></p>.<p>Adani Enterprises' unit Adani Data Networks purchased airwaves worth nearly $27 million in the country's 5G auction last year.</p>.<p>However, at the time, the company has said it does not plan to offer consumer services and is instead aiming to enter the private 5G network space.</p>.<p>The conglomerate's aggressive expansion into sectors such as cement and healthcare has also raised concerns over its elevated debt levels, while its large promoter shareholding has also come under scrutiny.</p>.<p>Its proposed mega $2.5 billion follow-on public offering (FPO), which launches later this month, will be used for capital expenditure and to pay off debt at its units, the company has said.</p>.<p>"... (We are) doing the FPO to bring in new shareholders; wanted to expand shareholder register," Singh said.</p>