The said investment would be made when Syngene comes out with its initial public offer (IPO).
The equity shares of Syngene are proposed to be listed on BSE and the National Stock Exchange (NSE).
"We have received the FIPB approval to increase the foreign investment limit in our company...This approval will enable us to look to broaden our global investor base," Syngene International CEO Peter Bains said in a statement.
In January, Biocon Research Limited (a wholly-owned subsidiary of Biocon) transferred 10 per cent stake in Syngene to IVF Trustee Company Private Limited for Rs 380 crore.
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