When applying in an IPO, do we apply in lots or can apply as per the money that we want to invest?

Yes, you have to apply in lots in an IPO. You cannot apply for any amount you wish. Suppose the price of a share in an IPO is Rs 100. The lot size is 200 shares. So you have to apply for at least 1 lot and your application amount would be Rs 200 X 100= Rs 20,000. You cannot apply with Rs 10, 000 or Rs 15,000 or even Rs 30,000. If you want to invest more than 1 lot then you have to apply for 2 lots by paying Rs 40,000, 3 lots by paying Rs 60,000 and so on.