China-based e-commerce company Alibaba Group is looking to raise $24.3 billion in its impending IPO as it gears up for a NYSE debut in September.

If the Alibaba Group is successful in raising the amount, it would be the highest ever by a firm making its debut in the stock market. The company would be valued at $163 billion, making its worth higher than e-retailers like eBay and Amazon, which are valued at $68 billion and $161 billion, respectively, based on end of Friday trading.

On Friday, Sept. 5, Alibaba  Group-- the brainchild of school teacher Jack Ma -- made regulatory filing with the U.S. Securities and Exchange Commission that established the price point for its shares. The company is looking to sell nearly 368 million shares, which will be priced in the range of $60 to $66 each.

The documents, however, do not divulge the exact date as to when the trading of Alibaba's shares will begin. A strong possibility exists that the company may make its NYSE debut on Sept.19 or Sept. 26. This date is dependent on whether Alibaba needs to iron out any additional issues pertaining to security regulation prior to the completion of the IPO.

Alibaba Group intends to sell off nearly 123 million shares. The remainder will be on offer by early investors in the company like Yahoo, which will part with a chunk of its 23 percent share.

The firm is also shelling out $15.8 million for legal fees that will be paid to Simpson Thacher and other lawyers who doled out advice to Alibaba for its IPO. This sum is the fourth highest spending for legal fees for any IPO in the past decade.

The success of Alibaba Group is primarily owing to the fact that it has capitalized on the burgeoning e-commerce platform, which attracts consumers and businesses by the plentiful. The platform builds on China's growing economy and Alibaba Group has several sites like AliExpress, Taobao, Alibaba and Tmall under its umbrella.

Alibaba Group is said to freeze in on the final price for its shares post a worldwide roadshow that kicks off on Monday, Sept. 8, in New York and will also make its way to Hong Kong. The firm intends on trading in NYSE under the ticker "BABA."