Getting a tip-off that the Maoists were holding meeting near Kumaldih forests under Bundu police station, the police and the CRPF personnel raided the areas and arrested the trio and seized the explosives, Senior Superintendent of Police (SSP) Prabhat Kumar said.
They are identified as self-styled area commander Jivardhan Munda alias Nandu, Meher Munda and Sanika Munda, he said.
Several other rebels managed to flee, he said, adding the meeting was being held to create violent incidents during elections.
Five detonators, codex wire, pressure cooker, a rifle, which was looted from the police, one pistol, 24 bullets, unspecified number of mobile phones, flash light and Maoist literature were recovered, the SSP said.