Fix Price's equity value was put at between 752 billion and 854 billion roubles ($10.2-11.6 billion) by VTB Capital, one of the banks arranging the Russian retailer's initial public offering (IPO), two financial market sources said.
Fix Price, which sells low-priced goods in walk-in shops and on line, plans to offer existing shares during its IPO.
VTB Capital did not immediately reply to a Reuters request for a comment.
The company aims to raise around $1 billion and the pricing is expected by 6 March, sources have said.
BofA Securities, Citigroup, JPMorgan, Morgan Stanley and VTB Capital are arranging the deal, Fix Price has said.