Do I lose ownership of my company if I list?

Your share falls, but the company stays yours. New shares are issued to investors, so your percentage falls, but in most SME IPOs the promoter group keeps a majority.

In an SME IPO, promoters must hold at least 20% of the post-issue capital for three years (locked in, so it cannot be sold). Of their holding above that, half is locked in for two years and half for one year. Main Board lock-ins are generally shorter: 18 months for the minimum promoter contribution (three years where the money is mainly for capital expenditure), and six months for the rest. What does change is how the company is governed: independent directors, committees and minority shareholders with rights.