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“Preliminary investigation has revealed that the bullets are of foreign make. The Anti-Terrorist Squad will probe the matter,” he said in a release.
Two civilians had spotted the bullets in an abandoned package and informed police.
Police had earlier said a ballistics team would inspect and determine the make of the bullets and the gun in which they could be used.
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In another seizure, 60 bullets used in country made guns was recovered from a man during a routine vehicle check by excise officials at the Kerala-Karnataka border.
The man, who was carrying the bullets in six packets in his car, did not have the necessary papers, police said.
He was taken into custody and was being questioned, police said.