What is meant by Minimum and Multiple Quantity in a Book Building Issue?
In a book built issue, the company specifies a minimum quantity that the customer needs to apply to get eligible to place the bids. Multiple quantity specifies the multiples (Lot size) in which the investor can apply for an IPO.For e.g. An IPO may specify a minimum quantity of 100 and a multiple quantity of 100.So in order to apply for the IPO the investor will have to apply for at least 100 shares and in case he wants to apply for more shares, then he may apply in multiples of 100. So in this case he can apply for 100, 200, 300 but not 150,250 325 and likewise.
