Hello @kartik,
Yes ,you can read the value and even bind to the change event if you want.
<html>
<head>
  <title>Test Page</title>
  <script src="code.jquery.com/jquery-latest.js"></script>
  <script type="text/javascript">
  $(function()
  {
    $('#tester').change( function()
    {
      console.log( $(this).val() );
    });
  });
  </script>
</head>
<body>
<input type="file" id="tester" />
</body>
</html>
But there are other, multiple-upload solutions that might suit your needs better, such as bpeterson76 posted.
Hope it helps!!