CORRECTED-UPDATE 1-Outdoor grills maker Weber targets $5 bln valuation in U.S. IPO

(Corrects to say valuation of about $5 billion, not over $8 billion, in headline, paragraph 1)

July 27 (Reuters) - Outdoor grills maker Weber Inc said on Tuesday it expects to raise up to $797 million through an initial public offering in the United States, targeting a valuation of about $5 billion.

The company plans to sell roughly 46.88 million shares priced between $15 and $17 per share, according to a regulatory filing.

Revenue jumped 62% year-on-year in the six months ended March 31, driven by the increasing adoption of an outdoor lifestyle, Weber disclosed in the filing.

Weber was founded by George Stephen Sr, who invented the Weber Kettle, a dome-shaped charcoal grill about 70 years ago. Its products include gas, electric and charcoal grills.

BDT Capital Partners, a U.S. fund run by Warren Buffett's banker Byron Trott, holds a controlling interest in the company in partnership with the Stephen family and management.

Entities including BDT will hold about 74% of the combined voting power of Weber's common stock after the offering.

Weber's filing comes as wood pellet grill maker Traeger Inc is expected to debut on the New York Stock Exchange on Thursday.

Goldman Sachs, BofA Securities and J.P. Morgan are among the underwriters for the offering.

Weber is expected to list its shares on the NYSE under the ticker symbol "WEBR".

(Reporting by Sohini Podder in Bengaluru; Editing by Arun Koyyur and Sriraj Kalluvila)