diff --git a/.gitlab/ci/common.yml b/.gitlab/ci/common.yml
index 9b45d0e05bec..b786fe2c1021 100644
--- a/.gitlab/ci/common.yml
+++ b/.gitlab/ci/common.yml
@@ -39,7 +39,7 @@ variables:
   GIT_FETCH_EXTRA_FLAGS: "--no-recurse-submodules --prune --prune-tags"
   # we're using .cache folder for caches
   GIT_CLEAN_FLAGS: -ffdx -e .cache/
-  LATEST_GIT_TAG: v5.2.1
+  LATEST_GIT_TAG: v5.2.3
 
   SUBMODULE_FETCH_TOOL: "tools/ci/ci_fetch_submodule.py"
   # by default we will fetch all submodules
diff --git a/components/esp_common/include/esp_idf_version.h b/components/esp_common/include/esp_idf_version.h
index 3e3113b36720..3429622e0fd4 100644
--- a/components/esp_common/include/esp_idf_version.h
+++ b/components/esp_common/include/esp_idf_version.h
@@ -15,7 +15,7 @@ extern "C" {
 /** Minor version number (x.X.x) */
 #define ESP_IDF_VERSION_MINOR   2
 /** Patch version number (x.x.X) */
-#define ESP_IDF_VERSION_PATCH   2
+#define ESP_IDF_VERSION_PATCH   3
 
 /**
  * Macro to convert IDF version number into an integer
diff --git a/tools/cmake/version.cmake b/tools/cmake/version.cmake
index b77e287e9d26..74b43444514c 100644
--- a/tools/cmake/version.cmake
+++ b/tools/cmake/version.cmake
@@ -1,5 +1,5 @@
 set(IDF_VERSION_MAJOR 5)
 set(IDF_VERSION_MINOR 2)
-set(IDF_VERSION_PATCH 2)
+set(IDF_VERSION_PATCH 3)
 
 set(ENV{IDF_VERSION} "${IDF_VERSION_MAJOR}.${IDF_VERSION_MINOR}.${IDF_VERSION_PATCH}")