AO.com owner DRL is a step closer to listing on the London Stock Exchange after taking on advisers and lining up banks to complete the deal.

Founder John Roberts has hired investment banks Jefferies and JP Morgan to prepare a public listing which could occur before the end of the year, Sky News reported.

Roberts, who is being advised by Rothschild, could earn £60m from his 20% stake in the company if it floats. The etailer is valued at £300m.

DRL is looking to tap into upward consumer sentiment amid an improving economy with the listing, it emerged in July.

The etailer’s quirky adverts and swift delivery offer has attracted customers, including some who had previously shopped at collapsed rival Comet.

Roberts set up DRL Holdings, owner of Appliances Online and Appliance Deals, in 2000. DRL racked up sales of £275m in the year to March 31, 2012, up from £151.5m the year before.

Appliances Online rebranded as AO.com last month ahead of a push into new categories including coffee machines, food processors and vacuum cleaners.

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