@ srestha I think for the IEEE 754 binary32 case, an exponent value of 127 represents the actual zero (i.e. for 2e − 127 to be one, e must be 127). Exponents range from −126 to +127 because exponents of −127 (all 0s) and +128 (all 1s) are reserved for special numbers.
@ ankitgupta.1729 "The base of the scale factor is 16" means that exponent is raised to 16.
For example- (-1)^s * 1.M * 16^ (exponent-bias)