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A Bid Lot in an IPO is the minimum number of shares a retail investor must apply for, or multiples thereof, when submitting an IPO application. Each IPO specifies a fixed lot size, and investors are required to bid only in multiples of that lot size.
For example, if the bid lot is 10 shares, investors must bid for at least 10 shares or multiples of 10 shares. The bid lot size varies depending on the IPO's terms.
