March 20 (Reuters) - Reddit and its bankers are guiding

that they could price the social media platform's initial public

offering (IPO) at the top of the indicated range or above,

according to a source familiar with the matter.

The San Francisco, California-based company is seeking a

valuation of $6.5 billion in the IPO and had indicated it would

sell shares at a price between $31 and $34 each. If priced at

the top end of that range, the IPO would fetch $748 million for

Reddit and its selling shareholders.

Reddit's long-awaited stint as a publicly traded company has

been in the works for more than two years. It confidentially

filed for its IPO in Dec. 2021, but the stock rout due to the

Federal Reserve's quantitative tightening prompted a delay.

Its shares are expected to start trading on Thursday in an

eyeball-grabbing debut that will be a major test of the IPO

market, where investors are seeing some green shoots, thanks to

increasing bets of a soft landing.

Reddit's IPO is between four and five times oversubscribed,

Reuters reported on Sunday, making it more likely that the

company would achieve the targeted valuation.

To cash in on its popularity among traders, the company has

reserved 8% of the total shares on offer for eligible users and

moderators on its platform, certain board members and friends

and family members of its employees and directors.

Reddit declined to comment. The plans on the pricing were

earlier reported by Bloomberg News.

Morgan Stanley, Goldman Sachs, J.P.Morgan and Bank of

America Securities are the lead underwriters for the offering.

Shares are expected to be listed on the New York Stock Exchange

under the symbol "RDDT."

(Reporting by Niket Nishant in Bengaluru and Anirban Sen in New

York; Editing by Anil D'Silva)