China's largest internet-based e-Commerce business, Alibaba, is seeking to raise over $21 billion in an IPO to augment the company's valuation to a whopping $163 billion.

"Alibaba expects to price its initial public offering between $60 and $66 per American Depository Share, valuing the company at about $162.69 billion at the top end of the range and raising a maximum of $21.1 billion," Reuters reported.

The company that was established by English schoolteacher Jack Ma has kicked off a roadshow that began in New York and will have stopover in other major cities such as Hong Kong and San Francisco.

The objective of this tour is to help Alibaba determine their final price for IPO launch.

In less than two weeks, the company is set to ring the bell at the New York Stock Exchange.

The surmountable figures that Alibaba is targeting may seem larger than life.

However, several investors have now expressed their interest in buying shares of this business that handles more e-Commerce transactions than Amazon and eBay combined.

"This number may seem enormous, but when you look at the value compared with the company's fundamentals, it's not as rich as we might expect," said Brian Hamilton, chairman of private company analysis firm Sageworks.

The Chinese e-Commerce giant's IPO entrée is dubbed as the hottest since Facebook's initial public offering in 2012.

Speaking of Facebook, Alibaba has just announced that they are paying a sum of $15.8 million in legal fees to Simpson Thacher and attorneys as their advisor coming into the IPO realm.

This amount is six times bigger than what Mark Zuckerberg's company paid for their legal counsels.

The biggest IPO in history was set by Visa in 2010 when it opened with a $19.7 billion offering.

This year, Alibaba is knocking at the front door to shatter this record.

Reports have also mentioned that the company is hitting the Four Season Hotel in Boston for a presentation.

If and when Alibaba reaches the $163 billion-mark, they will instantly be recognized as one of the largest companies listed in the U.S. and will mark the grandest IPO debut in history.