Micro-blogging site Twitter Inc. on Monday hiked the top end of its initial public offering (IPO) price range by 25 per cent, dropping a strong hint that the upcoming offering is enjoying strong investor demand.

The widely popular social network announced that it had hiked the top end of its IPO price range to $23-$25 per share. The company however kept the IPO size untouched at 70 million shares.

It means the offering would generate up to $2 billion in case it exercises an option of overallotment of 10.5 million shares.

Following the hike in IPO price range, BTIG's Richard Greenfield said, "We would participate within the $23-25 range, albeit, simple math would dictate that management should price at the bottom end of the new range."

Many analysts are of the view that Twitter shares would increase after they start trading on the exchange. Some analysts even predicted that Twitter shares would soar to as high as $52 apiece in one year.

People with direct knowledge of the matter said demand for Twitter shares among institutional investors was so strong that the social network could push the final pricing of the offering even higher than the new range.

Twitter is the best known social network to go public since Facebook's IPO last year, though the micro-blogging site is aiming a far smaller valuation of up to $13.6 billion as compared with that of Facebook's $100 billion.