In order to use single heat pipe for multiple heat sources in electronics and space applications, a multibranch heat pipe with two evaporators and a condenser is developed with 20 internal grooves as a wick structure. Experimental investigation is carried out in the present study for axially grooved multibranch heat pipe (AGMBHP) by considering various parameters to obtain the best possible operating condition. AGMBHP is investigated for different filling ratios (range: 75% to 200%) in horizontal orientation for equal heat loads (0-240 W) and unequal heat loads (0-120 W) on evaporators. Heat pipe is tested for dynamic characteristic for optimum filling ratio range of 125% and 150%. Further, condenser cooling flowrate analysis and different orientation study is carried out and compared for horizontal, gravity assisted, anti-gravity and compound positions to understand the performance of heat pipe. AGMBHP is capable to transmit 240 W heat load with a minimum resistance of 0.192 C/W in horizontal orientation. The optimum condenser cooling water flowrate is found to be 5 ml/s under tested conditions. AGMBHP is capable to provide effective thermal conductivity as high as 31,824 W/m K which is quite suitable for electronics cooling. Orientation study revealed that horizontal orientation is comparatively better amongst all the other orientations for AGMBHP.