Asked on 30 May 2019
Some companies allow shareholders to opt for scrip dividends. This results in odd lots. So there needs to be a market for these people to sell their odd lots, even though its not worth the fees.
There are also rights issues, placements, preferrential offerings, which may result in odd lots. Though they tend to give preference to allow shareholders to round out their holdings but still there is a chance of odd lots.
There are also share splits, consolidations which can result in wierd number of shares.