Etailer expects to be “significantly oversubscribed” as book-building on the offer is scheduled to begin in earnest tomorrow.

The etailer is set to reveal a price range on Thursday and initial investor reaction leads the firm to believe it will be snapped up rapidly, a source familiar with the situation said. is understood to be valued at £1bn, a figure which had puzzled some City analysts and commentators.

The white goods retailer revealed its IPO plans last month and aims to float in March.  

The etailer’s chief executive John Roberts told Retail Week that the IPO would give it the “firepower” to realise its international growth opportunity. It plans to launch in Germany by next year where the electricals market is worth £6.6bn, according to research undertaken by OC&C.

Turnover at reached £260m for the year to March 2013 but is expected to jump to £400m this year. It made £7.2m pre-tax profit in its last financial year.

Meanwhile, it is understood that fellow IPO candidate McColl’s ends its investor roadshow this week and is expected to float in the next two weeks. is thought to be the next retailer to reveal its intention to float in the next two weeks.