An industrialist was injured as three unidentified men opened fire at him at his office in Bengaluru on Saturday afternoon.

The victim was rushed to St John's hospital. He is stated to be out of danger. The police are yet to reveal the identity of the victim.

The preliminary investigation revealed that business rivalry led to the incident.

According to the police, the incident occurred around 2 pm at Raheja Arcade Shopping Complex in Koramangala.

Three unknown people entered the Farm India Impex Private Limited office and opened three rounds of fire at the owner, said the police.

The office is situated at 2nd floor of Raheja arcade.

"We have leads about suspects. We have formed three teams to arrest them," said a senior police officer.