DhanLaxmi Crop science ltd

Why is DhanLaxmi Crop science hitting lower circuit day by day inspite having the biggest subscription of 555x for the IPO? Though the financials look good. I believe it's because of the profit booking and after the financial results it might go up. But still wondering why would it not hit upper circuit when the QIB quota was subscribed for 183x times. Can anyone put your thoughts on this?