Infants retailer Baby Bunting will take its first steps as a publicly listed company in October in a bid to outgrow its competitors.
The Victoria-based company plans to raise almost $52 million with the offer of shares at $1.40 each ahead of its ASX debut on October 16.
The funds will be used to add new stores around the country, adding to its current network of 33.
"It's the right time in our business growth race to be doing this," chief executive Matt Spencer told AAP.
"We're still sub-50 per cent of our rollout strategy and therefore there's a long way to go in growth."
Baby Bunting hopes to expand to 70 stores within ten years and increase its current 10 per cent market share of the $2.3 billion baby sector.
It pulled in $180 million in sales in the 2014/15 financial year.
Mr Spence says the retailer's large scale format gives it an edge in the industry.
The chain boasts a wide product range including prams, cots, car seats, toys, clothing, nappies and food, in stores measuring up to 2000 square metres.
"We want to continue to be the leading one-stop baby shop, providing the greatest range of products for parents and parents to be," Mr Spencer said.
Baby Bunting's organic growth and existing customer base mean its market prospects are stronger than those of failed baby goods seller Mothercare, he said, which became insolvent in 2013 after listing in 2010.
The UK chain could not remain competitive after getting bogged down in a price war with larger grocery-backed retailers.
"We're very different to the way Mothercare grew in Australia. We're very clear on what the format is for our business, and we have a very consistent retail offering and in-store experience nationwide," Mr Spencer said.
Proceeds raised from the float will also be used to clear $8 million company debt and to pay a special dividend to existing shareholders.
Arnold and Gail Nadelman, who founded the company in 1979, will remain the company's second largest shareholders after they sell seven million shares worth $9.8 million in the IPO.
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