The Sachin Tendulkar-led side was to take on hosts Bangalore in the IPL encounter which was scheduled to start at 4pm.
The toss which takes place at 3:30pm has also been delayed.
Two explosions have been heard outside the Chinnaswamy Stadium in Bangalore. There are reports that six to eight people have been injured.
The blasts are of low intensity, according to the police. One security guard has been injured seriously in the explosion.
"It's a minor incident in the generator room. No need to worry. We will have a delayed start though... may be of 10-15 minutes," Sudhakar Rao, assistant secretary of the Karnataka Cricket Association, said.
The cause of the blast is being ascertained. Both the teams are inside the stadium.
Mumbai Indians have already qualified for the semifinals with 18 points from 12 matches, Bangalore, with 14 points under their belt from 13 games, would have to ensure that they don't slip up at the doorstep of what would be their second straight semifinals in the cash-awash league.