"By tomorrow or day after, details will be known about the incident and appropriate action will be taken in this regard," he told reporters after visiting the blast site.
The police has started a comprehensive investigation and the central agencies are also assisting them in the process, the chief minister said. "Investigation is on to know the perpetrators behind the explosion," he said.
"The incident shows that there is a hand of terrorists," he said.
Asked what was the objective behind the blast ahead of assembly elections, the chief minister suspected that the perpetrators of terror wanted to spread fear among the people by planting an explosive near the BJP office.
Asked if the explosion was targeted at BJP, Shettar said he did not want to give a political colour, but going by the events "I suspect that it was so."
Reacting to Congress leaders including Siddaramaiah's reported statement that the blast was the handiwork of the BJP to gain sympathy vote in the run up to the elections, Shettar said one should not politicise the incident when people's lives are under threat.
"Whatever the Congress leaders have said about the incident is not in a good taste," he added.
Replying to a query, Shettar said compared to other states, the law and order situation is better and also kept under control terror activities in the state. "In every sensitive and vital areas we have deployed police and this particular incident was unexpected," he said.
Shettar said he would meet the injured and those whose houses were damaged in the blast tomorrow.
"Government will give compensation to the injured and family members of those whose houses have been damaged," he said and appealed to people to maintain peace and not fall prey to rumours.
He also interacted with senior police officials and City Police Commissioner Raghavendra Auradkar briefed him about the blast.