NHAI jointly with its Concessionaires and Financial Institutions incorporated Indian Highways Management Company Limited (IHMCL) on 26.12.2012 under the Companies Act, 1956 to carry out Electronic Tolling and other ancillary projects of NHAI. Indian Highways Management Company Limited (IHMCL) was incorporated on 26.12.2012 under the Companies Act, 1956. It was incorporated to carry out Electronic Tolling and other allied works by NHAI jointly with its Concessionaires and Financial Institutions. The shareholding pattern of stakeholders is NHAI-41.38%, Concessionaires-33.81% and Financial Institutions 24.81%.