Came across a very handy, useful tool which works like a charm : Virtual Router Plus
Virtual Router Plus turns any Windows 7 and Windows 8 computer into a Wifi Hot Spot using Wireless Hosted Network technology.
Virtual Router Plus is a free, open source software based router for PCs running Windows 7, Windows 8, Windows Server 2008 R2 and Windows Server 2012. Using Virtual Router Plus, users can wirelessly share any internet connection (Wifi, LAN, Cable Modem, Dial-up, Cellular, etc.) with any Wifi device (Laptop, Smart Phone, iPod Touch, iPhone, Android Phone, Zune, Netbook, wireless printer, etc.) These devices connect to Virtual Router just like any other access point, and the connection is completely secured using WPA2 (the most secure wireless encryption.)