The trader Muralidhara Bisoi alias Milu (28) was admitted at MKCG Medical College Hospital here and his condition was stated to be stable.
Bisoi was shot at in his under-construction house and the gang thereafter fled from the spot, police said.
Police suspected that the incident might be due to liquor trading or enmity or gang rivalry.
Superintendent of Police, Ganjam, Narasingh Bhol said, "We are waiting for his recovery", he added.
Police patrolling in the area has been intensified to nab the accused persons and nearby police station informed to keep vigil on their movements.
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