@DIYA I feel you should take it as (-1)^S * (1.M) * 2^(E-127) for single precision because this is the format prescribed by IEEE .

The actual exponent is biased by 127 to get E that is the actual value of the exponent is E − 127. This gives the range: $2^{1-127}=2^{-126} \, to \,\, 2^{254-127}=2^{127}$ .

are you preparing for GATE'20 ?