According to the police, four people shot him at point blank range injuring him in his chest, the police said, adding that the badly injured Raut was rushed to the AMS Hospital at Dombivili where he is being treated.
The police said that Raut's alleged hitmen include Sachin Pawar, Jagdish Kudekar, Ashish Kajale and Sameer Patil, though the exact motive behind the murder attempt could not be ascertained immediately.
Raut is said to be close Murbad MLA and an influential leader from Ambernath called Kisan Kathore.
The police has registered offences against Raut's absconding attackers under the Indian Penal Code and the Arms Act even as investigations are on, the police said.
No arrest had been made in connection with the incident, the police said.