All orders whose order size is less than the regular lot size are traded in the odd-lot market. Normally, in the normal demat market there is no question of odd lots since the minimum lot is 1 share. This odd lot market is a legacy of the erstwhile physical market, where shares were traded only in specified lots and fractional bonus issues would create odd lots. An order is called an odd lot order if the order size is less than regular lot size. These orders do not have any special terms attributes attached to them. In an odd-lot market, both the price and quantity of both the orders (buy and sell) should exactly match for the trade to take place. Currently, the odd lot market facility is used for the Limited Physical Market as per the SEBI directives. The Limited Physical Market is where trading is permitted in physical format only up to 500 shares irrespective of the value of the share.