Previously, Xiaomi had mentioned an event happening on August 16 in Beijing. The latest on Weibo says the date is now August 13 and if the teasers are to be believed, the company will launch both the Redmi Note 2 and the next iteration of its custom UI, the MIUI 7.
The Redmi Note 2 had been expected to come out with the Mi4, but apparently the company has chosen to delay it. It's unlikely the company would have two separate events so close to each other and will probably just announce both the phone and the UI at the same time.
As far as the specs go, the Note 2 sports a 5.5-inch IPS display, 1.2GHz quad-core Qualcomm Snapdragon 410 SoC, a 13MP rear camera with a 5MP frontfacer, 2GB of RAM and 8GB of internal storage. It hardly warrants a standalone event if you look at the spec sheet so its appearance at the MIUI 7 launch is pretty likely.