Attributing the better performance of recent Initial Public Offers, IPOs, to easier norms, SEBI Chairman, U. K. Sinha today said that retail investors may not invest again if they continuously lose money in the primary market. But the SEBI chief also noted that while data before 2013 shows that more than two-thirds of the new issues were trading below their issue price, 56 percent of this year's IPOs are trading above their issue price. The total value of primary issues jumped from 9,700 crore rupees in the last fiscal to 18,300 crores this fiscal. Describing the rising bad loans in the system as worrying, Sinha said the Reserve Bank's report on the country's top 500 companies shows that they are utilising only 71 per cent of their installed capacity. He also said SEBI is looking at the role of credit rating agencies and debenture trustees in the issuance of bonds.