The incident took place under Nelasnar police station limits last evening when a wooden boat carrying around eight persons capsized in river Indravati, Bijapur Collector Yashwant Kumar, told PTI.
While five persons swam to safety, three persons are still missing, he said.
After visiting Nelasnar village weekly market, the villagers were returning to their respective places in neighbouring Abhujmad area situated on the other side of Indravati river.
Soon after receiving an alert, police team along with rescue personnel, were rushed to the spot and an operation was launched to trace the missing people, he said.
"Divers are still searching for the missing persons in the river and as of now we can't confirm if they are dead," the collector added.