Announcing the deal, IBF's marketing agent Percept said Monnet Ispat and Energy will be sponsoring various national teams including senior men, juniors and sub juniors along with the senior women, juniors and sub juniors and taking care of their kits.
Monnet is also launching 'Fight Nights', which aims at promoting the sport by combining entertainment with boxing.
The 'Fight Night' would be a mix of the entertaining sport of boxing with live entertainment combined with a premium experience for the audience already seen in the US and Europe, the press release informed.
This will be India's first-ever indoor exhibition boxing matches between top Indian and international boxers. The bouts will be held at across the country in malls, multiplexes, clubs, open grounds, and college campuses.
Speaking on the deal, IBF chief Abhay Singh Chautala said, "This is a sign of good work that we have been trying to do, this was just the right boost that we needed to keep working much harder into making our boxers the world beaters that they already are on their way of becoming."
Ace pugilist, Vijender Singh also expressed happiness over the deal, and remarked, "We have the talent but boxing in India needs a supporter like the Monnet Group to take it forward.