The accused identified as Landge Irfan Mustafa, 30, was arrested near a bus stand in Jaipur Oct 10, police said.
"Mustafa was one of the other accused in the Pune blast. Till now four terrorist involved in the Pune blast have been arrested and two more are still absconding," said Special Commissioner of Police (Special Cell) S.N. Srivastava.
Mustafa is undergoing 20 days of police custody, which ends Oct 30.
Asad Khan, 33, and Imran Khan, 31 were arrested from south Delhi Sep 26. The third alleged operative, Sayed Feroz alias Hamza, 38, was arrested Oct 1 from the Nizamuddin Railway Station here.
"They had approached Delhi for a terrorist attack in festive seasons. Around five kg of improvised explosive devices, 10 detonators and some incriminating materials were recovered from them," claimed a police officer.
Interrogation of the three alleged terrorists led to the identification of Mustafa after which he was apprehended.
"In the month of July 2012, Riyaz Bhatkal, one of the IM chief, instructed Mustafa to arrange a rented accommodation in Pune. He along with Feroz occupied a rented room at Kasarwadi (Pune) without submitting any document or identity proof," claimed Srivastava.
"He received two more terrorists, who are still absconding, whom he met November 2011 in Pune. He took them to his rented house where they had prepared Improvised Electronic Devises (IEDs)," said the officer.
Mustafa allegedly used to receive hawala money from Riyaz Bhatkal for further terrorist activity.
Explaining, about Mustafa's introduction with the other three terrorists, Srivastava claimed that he came in contact with Imran, who was his neighbour in Ahmed Nagar.
They shared the same 'jehadi' ideology and remained in regular touch.
"In July 2007 his younger sister, Gohar, got married to Asad in Aurangabad. This relation led to his frequent visit to Aurangabad and he introduced Asad to Imran. While in mid 2010, he met Feroz," the officer said.
Mustafa worked in TVS ICS company as an engineer from January 2008 to May-June 2009. In 2011, he along with Asad and Imran started real estate business in Aurangabad.
All of the accused visited Saudi Arabia several times to get ideological training, added the officer.
Spotted: Virat Kohli, Anushka Sharma and other celebs at Mumbai airport
Photos: Salman Khan's 'special friend' Iulia Vantur at a song launch
In Pictures: Sex scandals involving Indian politicians
Photos: Abhishek Bachchan and Farah Khan at Boman Irani's birthday bash
Spotted: Shah Rukh Khan at Morani's bungalow in Mumbai