Mumbai, Oct. 2 -- LG Electronics India Ltd, the wholly owned subsidiary of LG Electronics Inc., is preparing to tap the public markets even as it sharpens its focus on meeting domestic demand, building India as a global export hub, and expanding its portfolio of premium products. LG Electronics Inc. will raise Rs.11,607 crore by selling 101.8 million shares through an offer for sale (OFS). The initial public offering (IPO), scheduled for 7-9 October, will see the South Korean parent firm sell 15% of its stake in its Indian arm. Since no new equity will be issued, the subsidiary will not receive any funds from the offering. Sanjay Chitkara, chief sales officer, LG Electronics India, said the listing is "not just a financial event" but an opportunity to tell the company's "India growth story" and prepare for the future. "This IPO is coupled with other activities. Currently, we operate two manufacturing units, one in Noida and another in Pune. We are also investing $600 million in a third plant and doubling our capacity. We are scaling our manufacturing and investing in technology. We want to increase access to premium products among the masses and will invest in that. The new plant will also be in preparation for future exports," Chitkara told Mint on Wednesday. LG Electronics India was incorporated on 20 January 1997 as a wholly-owned subsidiary of LG Electronics Inc. Its Noida and Pune units together contributed more than 85% of sales in recent fiscal years, according to IPO disclosures by Axis Capital. A third unit for producing AC compressors, refrigerators, washing machines and air conditioners is being set up at Sri City, Andhra Pradesh, with an investment of $600 million (Rs.5,001 crore) over four years. Operations are expected to start by 2026. The Andhra Pradesh plant is also expected to boost exports, a key growth driver for the company. At present, LG's exports account for about 6% of India's business, and comprise mid-segment refrigerators and washing machines that are shipped to markets in Asia, Africa, and the Middle East. With the addition of premium production lines including side-by-side refrigerators and OLED TVs, LG expects to export to more markets and achieve economies of scale. Demand for LG appliances is growing worldwide and the company "wants to position India in a global production pool", said Atul Khanna, chief accounting officer, LG Electronics India....