Calling Tipu a "religious bigot", the state BJP unit had urged the JDS-Congress coalition government to drop its decision to celebrate 'Tipu Jayanthi'.
As a precautionary measure, prohibitory orders have been clamped in many districts of the southern state.
No processions, either in favour or against the event will be allowed, officials said.
Elaborate security arrangements have been made in districts like Kodagu and Chitradurga, coastal regions among others, where local communities are opposed to the celebrations.
In Kodagu district, where celebrations were marred by widespread protests and violence in 2015, Tipu Jayanti Virodhi Horata Samithi has called for a bandh Saturday.
Vishwa Hindu Parishad (VHP) worker Kuttappa had died in Kodagu district during the clash that erupted during the celebrations in 2015.
Superintendent of Police of Kodagu Sumana D Pannekara told reporters that the situation was peaceful so far and security arrangements have been made to ensure that no untoward incidents took place.
She said no one would be allowed to forcefully shut shops and business establishments.
"Around 500 police personnel along with officials have been deployed in and around Vidhana Soudha (Bengaluru).. DCPs of different zones in the city will be in charge of security in their respective jurisdiction. About 15,000 police personnel will be manning the city," Bengaluru Police Commissioner T Suneel Kumar said.
Tipu Jayanti celebration at the Vidhana Soudha will be held in the presence of Deputy Chief Minister G Parameshwara, as Chief Minister H D Kumaraswamy will not be present due to health reasons.