Beacon Lighting has reportedly starting meeting institutional investors ahead of the $141.9 million initial public offering slated for April.

According to the Australian Financial Review, Beacon executive chairman and founder, Ian Robinson, and son Greg Robinson, launched into the investor roadshow on Monday, with broker Morgans underwriting and managing the float.

The lighting retailer, which has 71 company owned stores and 14 franchised outlets, expects to make $11.5 million profit after tax in the 2013-14 financial year, according to investor sources, on $150.3 million revenue and $19.3 million EBITDA.

The float, at 66¢ a share, would value the company at 12.4 times forecast profit and on a 4.2 per cent dividend yield.  The AFR reports Morgans was calling for bids by Friday, while the prospectus would be lodged on March 12 and Beacon could start trading on April 15.