New Delhi:Lumino Industries Ltd will launch its Rs 700 crore Initial Public Offering (IPO) on August 27, with the company looking to use the fresh issue proceeds to pare debt, buy equipment and machinery, and upgrade an existing manufacturing facility. The price band has been fixed at Rs 78-82 per share, valuing the company at around Rs 2,500 crore at the higher end. The IPO comprises a fresh issue of equity shares worth up to Rs 500 crore and an Offer For Sale (OFS) of shares aggregating up to Rs 200 crore, according to a public announcement on Friday. The bidding will close on August 31, while the anchor investor bidding will take place on August 25. Proceeds from the fresh issue will be used for payment of debt, purchase of equipment and machinery, civil works and interior development of an existing manufacturing facility; and general corporate purposes.