Ashit,
Take a look at your rsoe configuration files or startup options. If you enter the host into a browser, i.e. http://xxx.xxx.xxx.xxx or https://myserver.mycompany.com, are you able to connect?
If so, add the url_suffix to the address, probably /ias_relay_server/server/rs_server.dll. What do you see now?
Finally, add the farm id. What do you see now?
Now look at your Relay Server log. Typically this will be in a folder called ias_relay_server, and will be called rs.log or ias_relay_server_host.log. Search for the farm id you used above. Are there any errors?
Regards,
Mike Loop - SAP Product Support