Company: TOP
Filing Date: 2025-04-30
Form Type: POS AM
Source: 0001213900-25-037641
Chunk: 47

Company: TOP Financial Group Ltd
Filing Date: 2025-04-30
Form: POS AM
Chunk 47
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 made by purchasers in the offering; and |

| ● | the amount of the immediate dilution from the public offering price 
 which will be absorbed by such purchasers.                          |

<div align='center'>16

USE OF PROCEEDS</div>

We intend to use the net proceeds from the sale of securities we offer as indicated in the applicable prospectus supplement, information incorporated by reference, or free writing prospectus.

<div align='center'>17

DESCRIPTION OF ORDINARY SHARES</div>

TFGL is an exempted company incorporatedunder the Companies Act. The share capital of the Company is US$l,000,000.00 divided into
1,000,000,000 shares, comprising of (i) 990,000,000 Class A ordinary shares of a par value of US$0.001 each and (ii) 10,000,000 Class
B ordinary shares of a par value of US$0.001 each. As of the date of this prospectus, there are 37,044,475 Class A ordinary shares and
no Class B ordinary shares issued and outstanding.

The following are summaries of the material
provisions of our amended and restated memorandum and articles of association and the Companies Act, insofar as they relate to the material
terms of our Class A ordinary shares and Class B ordinary shares. Copies of our amended and restated memorandum and articles of association
are filed as exhibits to the most recent annual report on Form 20-F, which is incorporated by reference in this prospectus.

General

The share capital of the Company is US$l,000,000.00
divided into 1,000,000,000 shares, comprising of (i) 990,000,000 Class A ordinary shares of a par value of US$0.001 each and (ii) 10,000,000
Class B ordinary shares of a par value of US$0.001 each. As of the date of this prospectus, there are 37,044,475 Class A ordinary shares
and no Class B ordinary shares issued and outstanding.

Each Class A ordinary share in the Company confers
upon the shareholder:

| ● | the                                                                                                         
 right to one (1) vote at a meeting of the shareholders of the Company or on any resolution of shareholders. |

Each Class B ordinary share in the Company confers
upon the shareholder:

| ● | the                                                                                                             
 right to fifty (50) votes at a meeting of the shareholders of the Company or