For an IPO,what is the 'Market lot size' & 'Minimum Order quantity'?

Investors should be aware of two key factors when bidding on an IPO: IPO 'Market Lot’ and IPO 'Minimum Order Quantity.

The minimum order quantity, as the name suggests, is the minimum amount of shares an investor can bid for in an IPO. Investors who want to bid on additional shares can submit multiples IPO Market Lot (lot size) or IPO bid lots.

Usually, the Market Lot * Lower Side of the Issue Price) values between Rs 5500/– to Rs 6000/–.

Exemple:IPO: Power Grid Corporation of India Limited
Public Issue Price: per equity share Rs. 44/- to Rs. 52/- 
Market Lot 125 Shares
Minimum Order Quantity: 125 Shares

This IPO is open to investors as follows:

At Rs 44/- *125 Shares * 1 Lot =
Rs 5500/­
At Rs 44/- *125 Shares *2 Lot =
Rs 11000/­
At Rs 44/- *125 Shares * 18 Lots =
Rs 9999/-

At Rs 52/- *125 Shares X 2 Lot = 
Rs 13000/­
At Rs 52/- *125 Shares X 1 Lot =
Rs 6500/­
At Rs 52/- *125 Shares X 15 Lot =
Rs 9750/-