Saranya Chairungrueng, a 42-year-old retail investor, scored a big profit from the IPO of Thai Agro Energy (TAE), which surged 180% on its first day of trade.
The windfall made her keen to subscribe to other initial public offerings in search of easy short-run gains.
"If I can get in, I think there is a lot of upside," she said.
With such eye-popping returns, investors are increasingly willing to roll the dice on IPO shares.
Retail investors are stampeding into IPOs at the fastest clip in years, fuelling a frenzy in shares of newly listed firms.
Since the army took power on May 22, no stock has fallen below the offering price on its opening day.
Moreover, the lowest return for a newly listed company on its debut since then was 30%, and several stocks more than doubled.
CCN-Tech (CCN) soared nearly 200% to close at 3.74 baht in its debut yesterday on the Market for Alternative Investment (MAI).
The stock market rally and an expected economic rebound have stoked expectations that the IPO boom will extend into 2015.
So far this year, 20 companies have listed on local bourses — 10 each on the Stock Exchange of Thailand (SET) and the MAI.
In the queue for the rest of the year are 14 companies seeking a listing on the SET and 12 on the MAI.
The would-be SET listings include the country's largest gold miner, Akara Resources, boutique airline Bangkok Airways, energy drink maker Carabao Group and department store operator Zeer Property.
"The IPO market is very active this year because of the favourable market sentiment," said MAI president Prapan Charoenprawatt.
"Listing on the stock market at the right time is very important. The share price on debut could dip lower than the IPO price if listed at the wrong time."
Among the 10 newly listed stocks on the MAI this year, only one — AI Energy (AIE) — lost ground on its opening day.
AIE debuted in January amid then-negative sentiment arising from the political impasse and an exodus of foreign investors.
The MAI recently revised its 2014 target upwards to 20 new listings with a market capitalisation of 20 billion baht, up from the previous goal of 16 companies and 8 billion baht.
"IPO prices are normally discounted 25-30% to attract investors, but prices on their debut can double or hit the ceiling if investors are in a cheerful mood," said Finansia Syrus president Sompop Kreeratisunthonpong.
"Many IPO stocks experience a great deal of speculation on their opening day, so investors should be wary of jumping into stocks at a high price."
Mr Sompop said Finansia Syrus was involved with two companies expected to go public this year.
The market's positive sentiment could continue through the end of 2014, now that political concerns have receded since the May coup.
Average trading value on the SET has increased to 40-50 billion baht a day from 35 billion since the military's seizure of power.
In the meantime, SET executive vice-president Chanitr Charnchainarong said the stock exchange was maintaining its market capitalisation target for newly listed firms at 210 billion baht this year, though surpassing the goal remained a possibility.
So far in 2014, 10 companies have debuted on the SET with a combined market cap of 124.62 billion baht upon listing.