Nikhil,
Ignoring the HTTPS to http redirection rule "Others Force HTTP" for images and stylesheets would solve this, you can rewrite your condition like this
<conditions logicalGrouping="MatchAll" trackAllCaptures="false">
<add input="{HTTPS}" pattern="^ON$" />
<add input="{REQUEST_URI}" pattern="^/Content*" negate="true" />
</conditions>
Note: You can remove the url matching condition for the contents folder
Hope this helps.