ASK Automotive is a manufacturer of brake-shoe and advanced braking systems for two-wheelers in India with a market share of approximately 50% in fiscal 2023 in terms of production volume for OEMs and the branded independent aftermarket, on a combined basis. Analysts have advised investors to subscribe to the IPO over the company's strong financials, long-term growth prospects and reasonable valuation.

Hero MotoCorp, Coal India, Bajaj Finance, JSW Steel and Divis Labs were among major losers on the Nifty, while gainers included Sun Pharma, BPCL, NTPC, Axis Bank and Dr Reddy's Labs.

The record date for the stock split will be determined at a later date.

Rahul Arora, CEO of Nirmal Bang Equities shared his outlook on new-age companies like Nykaa and Paytm with CNBC-TV18.