What is 'Market Lot Size' and 'Minimum Order Quantity' for an IPO?

IPO 'Market Lot' and 'Minimum Order Quantity' are two important factors investor should know while bidding for an IPO.Minimum Order Quantity, as name says, is the minimum number of shares investor can apply while bidding in an IPO. If investor wants to bid for more shares, they can apply in multiples of IPO market lot (lot Size or IPO bid lot) of shares.Usually (Market Lot * Lower side of the issue price) values around Rs 5500/- to Rs 6000/-. Example:IPO: Power Grid Corporation of India Limited IPOPublic Issue Price: Rs. 44/- to Rs. 52/- Per Equity Share Market Lot: 125 Shares Minimum Order Quantity: 125 Shares Investor can apply in this IPO as below:At Rs 44/- * 125 Shares * 1 Lot = Rs 5500/-At Rs 44/- * 125 Shares * 2 Lot = Rs 11000/-At Rs 44/- * 125 Shares * 18 Lot = Rs 99000/-At Rs 52/- * 125 Shares * 2 Lot = Rs 13000/-At Rs 52/- * 125 Shares * 1 Lot = Rs 6500/-At Rs 52/- * 125 Shares * 15 Lot = Rs 97500/-