Hi Manoj,
Per my understanding, you might want to implement more than two level grouping in the OOTB list view.
There seems no easy way to meet your requirement without using SharePoint Designer to modify the view in XSLT format:
http://techtrainingnotes.blogspot.com/2008/11/sharepoint-group-by-on-more-than-2.html
If you want to go in a way of using JavaScript, a thought is that you might need to modify the HTML source code of page element to implement the custom multiple level
grouping in the current list view which already has two level grouping applied. For the data in the Third level grouping, JavaScript Client Object Model would be a good choice to access data of SharePoint list.
How to: Create, Update, and Delete List Items Using JavaScript
http://msdn.microsoft.com/en-us/library/office/hh185011(v=office.14).aspx
Common Programming Tasks in the JavaScript Object Model
http://msdn.microsoft.com/en-us/library/office/hh185015(v=office.14).aspx
About how to add JavaScript into SharePoint page via a Content Editor Web Part:
http://blogs.msdn.com/b/sharepointdev/archive/2011/04/14/using-the-javascript-object-model-in-a-content-editor-web-part.aspx
Thanks
Patrick Liang