Hi Wouter and Scott,
@Wouter - Thank you for your reply. I had read that earlier but somehow didn't managed to work on it. But still Thank you very much.
@Scott - Your answer on this site helped me a lot. https://www.gittprogram.com/question/769892_multi-level-ribbon-menu.html
And then tweaking some of my requirements there I managed to get the desired output.
Sharing the code and image for future searchers.
Credit goes to you Scott. (already following you on twitter ;) )
Thanks a lot !!!
<CommandUIDefinition>
<FlyoutAnchor Command="Mscrm.Enabled" Id="Form.campaign.MainTab.Save.Menu" LabelText="$LocLabels:Form.campaign.MainTab.Save.Menu.LabelText" Sequence="75" >
<Menu Id="Form.campaign.MainTab.Save.Menu.Menu">
<MenuSection Id="Form.campaign.Section2.Section" Sequence="10" DisplayMode="Menu16">
<Controls Id="Form.campaign.Section2.Section.Controls">
<Button Id="Form.campaign.MainTab.Save.Price" Command="Form.campaign.MainTab.Save.Price.Command" Sequence="20" LabelText="$LocLabels:Form.campaign.MainTab.Save.Price.LabelText" ToolTipTitle="$LocLabels:Form.campaign.MainTab.Save.Price.ToolTipTitle" ToolTipDescription="$LocLabels:Form.campaign.MainTab.Save.Price.Description" TemplateAlias="isv" />
</Controls>
</MenuSection>
<MenuSection Id="Form.campaign.Section3.Section" Sequence="10" DisplayMode="Menu16">
<Controls Id="Form.campaign.Section3.Section.Controls">
<FlyoutAnchor Command="Mscrm.Enabled" Id="Form.campaign.MainTab.Print.Menu" LabelText="$LocLabels:Form.campaign.MainTab.Print.Menu.LabelText" Sequence="75" >
<Menu Id="Form.campaign.MainTab.Print.Menu.Menu">
<MenuSection Id="Form.campaign.Section5.Section" Sequence="10" DisplayMode="Menu16">
<Controls Id="Form.campaign.Section5.Section.Controls">
<Button Id="Form.campaign.MainTab.Print.Print" Command="Form.campaign.MainTab.Print.Print.Command" Sequence="20" LabelText="$LocLabels:Form.campaign.MainTab.Print.Print.LabelText" ToolTipTitle="$LocLabels:Form.campaign.MainTab.Print.Print.ToolTipTitle" ToolTipDescription="$LocLabels:Form.campaign.MainTab.Print.Print.Description" />
<Button Id="Form.campaign.MainTab.Print.PrintPreview" Command="Form.campaign.MainTab.Print.PrintPreview.Command" Sequence="21" LabelText="$LocLabels:Form.campaign.MainTab.Print.PrintPreview.LabelText" ToolTipTitle="$LocLabels:Form.campaign.MainTab.Print.PrintPreview.ToolTipTitle" ToolTipDescription="$LocLabels:Form.campaign.MainTab.Print.PrintPreview.Description" />
</Controls>
</MenuSection>
</Menu>
</FlyoutAnchor>
</Controls>
</MenuSection>
</Menu>
</FlyoutAnchor>
</CommandUIDefinition>

Thank you,
Prashant,