-         Market Lot Size:   

The Market Lot Size (also called Lot Size) is the fixed number of shares that an investor can apply for in an IPO. Shares in an IPO are applied in multiples of this lot size. 

-         Minimum Order Quantity: 

The Minimum Order Quantity is the minimum number of shares an investor must apply for in an IPO. Usually, this is equal to 1 market lot, meaning you must apply for at least one lot of shares but not less than 1 lot.