Both Cricket Australia and the Cricketers' Association (ACA) say a final decision have to be made by the players themselves and they will just issue an advice after learning about the impact of the terror strike.
Nine people were killed and up to 57 injured in the blast on Saturday at the famous German Bakery in Pune in the first terrorist act in India since the Mumbai attacks in November 2008.
Australian cricket's security adviser Reg Dickason, is investigating the attack and will make his recommendation by this week.
"Our independent security company is investigating what impact this attack may have on our players participating in the IPL, so we're waiting for that advice.
"It is a very tragic incident. It will be one of the many considerations they take into account in taking a position as to whether it is safe to go to India," ACA boss Paul Marsh was quoted as saying by the 'Sydney Morning Herald'.
The third edition of the cash-rich event will begin on March 12 in Mumbai.
Meanwhile, IPL chairman Lalit Modi gave an impression that terror attack will not have any effect on the tournament.
"We will not be terrorised. United we will stand," he wrote on his on his Twitter page.
CA spokesman Peter Young said the players would be given advice whenever they requested, even upon arrival in India and throughout the IPL.
"We live in an increasingly uncertain world. There is a formal process we apply consistently, and we will be doing that as usual.
"We don't have any say on whether players stay or go. Our players have that choice to make individually. In making their choice, they are informed as they need to be," Young said.