One woman was seriously injured in the explosion which occurred on July 28.
The accused are identified as Pramod Dalvi, Siddesh Dalvi and Roshal Shelar.
The trio had allegedly placed a bag containing the bottle wrapped in a gift pack on two-wheeler of one Abhijit Gharat on July 26, said district SP Mahesh Patil in a press conference here today.
He said Gharat took the parcel inside his house, but kept it aside due to foul odour coming from it.
Explaining the motive behind the crime, police said one of the accused, Pramod was in love with the girl from their village who was also courted by a man who was friend of Gharat.
Gharat and his friend had asked Pramod to stay away from her.
Police said one of the accused, Siddesh assembled the explosive inside the bottle and attached a detonator and a switch.
Additional Superintendent of Police Prashant Kadam said Roshan helped Siddesh in procuring the dynamite and other material.
Shahapur division DYSP Vishal Thakur said the police rule out the possibility of any terror angle as of now.
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