What is lot size in IPO?

Every IPO has a lot size, which is the minimum number of shares, one must bid for to apply in the IPO. Lot size is different for each public issue.

Say a company issues IPO at a Rs 50 per share and lot size is 300 shares. Means, the minimum IPO application amount will be 300 shares * 50/share = Rs 15,000. All IPO applications will be in multiple of lots.

Note: Sebi has standardized lot sizes for SME IPO, based upon the issue/offer price. Check here