IBS Group Plans India Listing, Launches AI Travel Tech Naviq

New Delhi, Jul 14 (PTI) Singapore-headquartered IBS Group, which is focused on the global travel industry, will opt for listing of shares at the right time, according to its Executive Chairman V K Mathews. ​

Last week, the group launched an artificial intelligence company, Naviq Technology. It will make an investment of USD 500 million in the firm in the next five years. ​

IBS Software, the flagship company of IBS Group, is a leading SaaS (Software as a Service) player in the global travel industry spanning aviation, hospitality, tour and cruise, and logistics segments. ​

During a recent interaction with PTI, Mathews emphasised the importance of domain expertise and said Artificial Intelligence (AI) provides a huge opportunity. ​

About Naviq Technology, Mathews said the company is uniquely positioned and that customers will be charged on the basis of outcomes. ​


The measurement would be based on parameters such as the number of passengers boarded, revenue passenger kilometres or the number of loyalty programme members. "We have to link it to the outcome...," he said. ​

Naviq Technology, a new vertical AI company purpose-built for the global travel industry, would be initially hiring 2,000 people. ​

Meanwhile, IBS Software has significant manpower in India, especially in Kerala.

To a query on whether there are listing plans, Mathews replied in the affirmative. ​

"Yes, but the markets have to be ready. So, we were always trying for the US, then the India market looked good, but the India market is not great now... we have the option of IBS Software... it can be the holding company as well," he said. ​

Meanwhile, in 2023, UK-based Apax Partners LLP invested USD 450 million for a minority stake in IBS Software.