The police said the incident took place when their moped broke down and four persons approached them offering to help.
A complaint was registered after the incident by Apurv Mahavir Kothadiya (22), a resident of Wakad, at the Chatushringi police station.
The police said the complainant and his roommate, Abhinandan Kudale, were returning home at 1.30 am and their moped broke down upon reaching Baner Road.
“Kothadiya in his statement said that four unidentified youths approached them on two bikes and offered to help and they accepted the offer,” Police Inspector Subhash Nikam of the Chatushringi police station said.
He said the four helped the techies push the moped some distance and then took them to a secluded spot, where they threatened them and asked them to withdraw money from an ATM.
“As the victims were scared, they withdrew Rs 20,000 from ATM machines and gave it to them, but the culprits were not satisfied and they snatched their mobile phones worth Rs 8,000,” Nikam said.
The police have launched a massive manhunt to trace the culprits.