How should I ask for salary hike if they are replacing my manager with me

So since past few days, I'm getting feeling that they are going to sack my manager and are going to promote me to his level. They have already started sharing sheets with me whose access I didn't had earlier. It's a team of 6-7 designers, and I'm senior among them. Now, if they promote me toh manage this team, how should I ask for hike? What important things should I highlight so that I can make a good case for myself? Should I let them give me additional responsibilities and wait till june-July for appraisal? Appreciate all suggestions