Hi Madhvee,
There could be different problems related to your issue.
The first step should be to check if the excel is marked embedded as content in properties window. If not, mark the excel to be included as content.
The other thing could be the URL itself. Please verify if you are not giving absolute URL in the hyperlink. If yes, replace it with a relative address of the excel file.
If after these changes also, the issue appears, then please share the exact error message that your browser displays when you hit the hyperlink to download the excel.
I hope it helps!! If you found this post useful, Please "Mark as Answer" or "Vote as Helpful". Thanks! Vaibhav Gujral.