What version of Internet Explorer are you running.  I have tested a scenario in IE11 and the custom logic you have posted above seems to work. 

I am testing it in IE9. Did not try on IE11.

More detaills:
I have a section with different fields rendering on different conditions. So I have render conditions at field level and at section level. Section level render conditions has 4 conditions:
1) pcklst_fld1 = ‘abc’
2) pcklst_fld2 in (‘abc’,‘xyz’,‘pqr’)
3) pcklst_fld2 in (‘lmn’, ‘efg’)  –> this same field is used in condition 2 and 3
4) pcklst_fld3 in (‘jkl’, ‘stu’, ‘’)  –> It has one blank value

Logic is 1 OR 2 OR (3 AND 4)

The rendering works properly in other browsers.

I can see that field does not render when pcklst_fld3 is blank. 

Thanks for the detail Tanaji,  we are looking into this matter. 

There does seem to be a problem in IE 9 with conditions of type “Multiple Specified Values”  when the field has a blank value.  This is not just a problem in conditional rendering. 

But there is a work around.  Conditions of type “Multiple Specified Values” are basically just stringing together separate conditions with OR statements in them.  If you split up the conditions into separate ones,  it should work for you. 

In this case you would take condition 4 and replace it with 2. 

4)  pcklst_fld3 = ‘jkl’
5)  pcklst_fld3 = ‘stu’

And your logic statement would be: 
1 OR 2 OR (3 AND (4 OR 5))

This should work for you. 

I have so many multiple values that this splitting is not going to be an easy task. And that too, I have to do it at both section and field level. Anyways, I am incorporating this & will update you. I have to add condition for blank value too. Hope it works.

I changed my conditions & logic so that I don’t have to use blank value in ‘multiple specified values’ and the rendering is working now in IE. I did not split my conditions though. Thanks anyways for your help!

I made the fix for this and it will be out in the next patch release.