LG Electronics India Ltd, the local subsidiary of South Korean conglomerate LG, is preparing to launch its Initial Public Offering (IPO) on October 7. The share sale will remain open for subscription until October 9, while the bidding for anchor investors will open on October 6, the company said in its Red Herring Prospectus (RHP) filed on Tuesday. This will be the second South Korean company to tap the Indian stock market following the listing of Hyundai Motors India Ltd in October last year. LG Electronics India had filed its preliminary papers with Sebi in December for an IPO in which the parent company will offload more than 10.18 crore shares, representing about 15 per cent stake. The company received the regulator's approval for the public offering in March. The company did not disclose the total issue size, but people familiar with the matter had earlier pegged the IPO size at Rs 15,000 crore. Since the public issue is completely an Offer For Sale(OFS), LG Electronics India will not receive any IPO proceeds. The funds raised will go to the South Korean parent. LG Electronics India is a leading player in major home appliances and consumer electronics. The company products are sold to both B2C and B2B customers in India and abroad. It also provides installation, repair, and maintenance services for all its products. The company manufactures and sells products, including washing machines, refrigerators, LED TV panels, inverter air conditioners, and microwaves. It has manufacturing units at Noida (UP) and Pune. On the financial front, LG Electronics India's revenue from operations was Rs 64,087.97 crore for the financial year ended March 31, 2024. Morgan Stanley India, J P Morgan India, Axis Capital, BofA Securities India, and Citigroup Global Markets India are the book-running lead managers for the IPO.