What will happen when I get public IP?

I believe I am using private IP currently. The IP address of my Thomson TG799vn (router) is 192.168.1.254. It is running DHCP server and assigning IP address range of 192.168.1.64~253 to the PCs connected to its LAN ports. So if I request Maxis for public IP, does that mean my Thomson router's IP address will be changed to a public IP address? Will my Thomson router start assigning public IPs for the PCs connected to the internal network (this does not sound right)?

Thank you in advance.