Delphi files for $100 million IPO

2009 was a rough year for most companies in the automotive industry. Delphi, a major automotive parts supplier, saw things a little differently. After entering bankruptcy in 2005, Delphi was able to climb out of its Chapter 11 hole in 2009. Now, two years later, Delphi is heading to Wall Street, and it looks like the parts supplier is about to make it rain.
Delphi has filled out an S-1 form and handed it over to the SEC. An Initial Public Offering will soon follow, and Delphi is looking to bring in $100 million. Delphi believes that number will fluctuate as analysts evaluate the company and the strength of its balance sheet.

If you've been following the recent rash of automotive IPOs, then you might think $100 million sounds low. Analysts agree with you.

The $100 million figure is merely a placeholder value, so that filing fees can be calculated. It's quite possible that millions will be turning into billions. Recent movement in the automotive industry has investors spending serious amounts of money. General Motors hauled in $23.1 billion during its IPO at the end of 2010. Delphi has cleaned up billions of dollars in debt while slimming down its overhead.

We'll be paying close attention when "DLPH" starts scrolling across the ticker.