Mumbai, Dec 22 :    Mumbai, Dec 22:  The Tata group's internal restructuring of companies took a new turn when Tata Iron & Steel Company Ltd (Tisco) announced plans to acquire another 55.24 per cent equity in Tata SSL Ltd through an open offer at a price of Rs 27 per share for a total consideration of over Rs 47.27 crore. Though the exact current holding of Tisco in Tata SSL is not known, it is believed to be around 44.76 per cent. Thus the acquisition of over 55 per cent stake in the company would result in Tata Steel controlling Tata SSL's entire equity. Tata SSL is set to be de-listed from the bourses if the open offer is successful. The offer represents a premium of around 39 per cent as compared to Tata SSL's closing price in the BSE today. The scrip was riding high on the news of the open offer and touched the 8 per cent upper limit. It opened at Rs 18, dropped to an intra-day low of Rs 17.60, and quickly bounced back to finish at Rs 19.40. Over 46,102 shares have been traded at the counter. In a notice sent to the stock exchanges, Tisco said at today's meeting its board of directors decided to make the open offer which would comprise 1,75,09,032 shares. Tata SSL manufactures steel wires, ropes, and profiles. It has plants at Navsari in Gujarat and Tarapur in Maharashtra. Tata Chem demerger The board of Tata Chemicals today approved the divestment proposal of its cement business and authorised the management to pursue options of disposal of the cement plant at Mithapur to prospective buyers. In its meeting, the board came concluded that cement would not be a core business for the company in the future. Options were also evaluated whether to offload the ownership of the plant to a joint venture firm or outrightly to a buyer. After the disposal of the plant, the company would firm up plans of focusing its portfolio in core chemical sector. Industry sources said cement companies like ACC could be possible contenders for buying the plant since its products are marketed by ACC under the Tata Chemicals-ACC brand name.