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The 17-year-old boy fled on the principal’s scooter after the incident that took place around 1.30 pm but was nabbed within a few hours, said inspector Pushpendra Yadav of Orchha Road police station.
He was traced near the district’s border with Uttar Pradesh, the official said, adding that the accused was known for wayward behaviour at school.
The weapon used for the killing was also seized from him, Yadav added.
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City Superintendent of Police Aman Mishra told PTI that only one round was fired.
“As per initial investigation, the accused was angry at being scolded for coming late today as well as on earlier occasions,” said Mishra, who was at the crime spot heading the probe.
Saxena has been the principal at the school for five years, said in-charge district education officer R P Prajapati.
Harishankar Joshi, a teacher at the school, told reporters that Saxena was a “gem of a person” and claimed that the accused was a “notorious lad” who came to school as per his whim.
“Principal Saxena used to counsel such students. If things did not improve, he would call their parents. He had cordial relations with all the staff,” Joshi said.