diff --git a/.bazelrc b/.bazelrc
index e5b89db74..c78796333 100644
--- a/.bazelrc
+++ b/.bazelrc
@@ -3,7 +3,7 @@ build --action_env=CONTAINER_CMD
 build --action_env=XDG_RUNTIME_DIR
 # Operator
 ## Default operator config
-build --action_env=VERSION=2.5.2
+build --action_env=VERSION=2.5.3
 build --action_env=NAMESPACE=konveyor-forklift
 build --action_env=CHANNELS=development
 build --action_env=DEFAULT_CHANNEL=development
diff --git a/Makefile b/Makefile
index 039d96c50..aa54fa4f3 100644
--- a/Makefile
+++ b/Makefile
@@ -20,7 +20,7 @@ REGISTRY ?= quay.io
 REGISTRY_ORG ?= kubev2v
 REGISTRY_TAG ?= devel
 
-VERSION ?= 2.5.2
+VERSION ?= 2.5.3
 NAMESPACE ?= konveyor-forklift
 OPERATOR_NAME ?= forklift-operator
 CHANNELS ?= development
diff --git a/README.md b/README.md
index 7d61bb0d3..8aee5c82e 100644
--- a/README.md
+++ b/README.md
@@ -37,7 +37,7 @@ Another option to override the default values can use `--action_env` as in the e
 | Name                       | Default value                                   | Description                                                 |
 |----------------------------|-------------------------------------------------|-------------------------------------------------------------|
 | CONTAINER_CMD              | autodetected                                    | The container runtime command (e.g.: /usr/bin/podman)       |
-| VERSION                    | 2.5.2                                           | The version with which the forklift should be built.        |
+| VERSION                    | 2.5.3                                           | The version with which the forklift should be built.        |
 | NAMESPACE                  | konveyor-forklift                               | The namespace in which the operator should be installed.    |
 | CHANNELS                   | development                                     | The olm channels.                                           |
 | DEFAULT_CHANNEL            | development                                     | The default olm channel.                                    |