For a graph G with vertex set VG={v1,v2,…,vn} and edge set EG={e1,e2,…,em}, let SG denotes the subdivision graph of G with vertex set VG∪EG. In SG, replace each vertex vi, i=1,2,…,n, by n1 vertices and join every vertex to the neighbors of vi. Then in the resulting graph, replace each vertex ej, j=1,2,…,m, by m1 vertices and join every vertex to the neighbors of ej. The resulting graph is denoted by SG(n1,m1). This generalizes the construction of the subdivision graph SG to SG(n1,m1) of a graph G. In this paper, we provide the complete information about the spectrum of SG(n1,m1) using the spectrum of SG. Further, we determine the Laplacian spectrum of SG(n1,m1) using the Laplacian spectrum of G, when G is a regular graph. Also, we find the Laplacian spectrum of SG(n1,m1) using the Laplacian spectrum of SG when n1=m1. The energy of a graph G is defined as the sum of the absolute values of the eigenvalues of G. The incidence energy of a graph G is defined as the sum of the square roots of the signless Laplacian eigenvalues of G. Finally, as an application, we show that the energy of the graph SG(n1,m1) is completely determined by the incidence energy of the graph G.