diff --git a/Makefile b/Makefile
index 48505c188..bc962cac3 100644
--- a/Makefile
+++ b/Makefile
@@ -1,4 +1,4 @@
-VERSION := 0.5.2
+VERSION := 0.5.3
 
 # Name of this service/application
 SERVICE_NAME := redis-operator