diff --git a/_service b/_service
index 0b93006..290c985 100644
--- a/_service
+++ b/_service
@@ -2,7 +2,7 @@
   <service name="obs_scm" mode="manual">
     <param name="url">https://github.com/containers/podman.git</param>
     <param name="scm">git</param>
-    <param name="revision">v5.0.2</param>
+    <param name="revision">v5.0.3</param>
     <param name="versionformat">@PARENT_TAG@</param>
     <param name="changesgenerate">enable</param>
     <param name="versionrewrite-pattern">v(.*)</param>
diff --git a/_servicedata b/_servicedata
index da72bc3..13287ad 100644
--- a/_servicedata
+++ b/_servicedata
@@ -1,4 +1,4 @@
 <servicedata>
 <service name="tar_scm">
                 <param name="url">https://github.com/containers/podman.git</param>
-              <param name="changesrevision">3304dd95b8978a8346b96b7d43134990609b3b29</param></service></servicedata>
\ No newline at end of file
+              <param name="changesrevision">d08315df35cb6e95f65bf3935f529295c6e54742</param></service></servicedata>
\ No newline at end of file
diff --git a/podman-5.0.2.obscpio b/podman-5.0.2.obscpio
deleted file mode 100644
index 8564c2f..0000000
--- a/podman-5.0.2.obscpio
+++ /dev/null
@@ -1,3 +0,0 @@
-version https://git-lfs.github.com/spec/v1
-oid sha256:e1a4c0f916d39b69c3e510ece0ae957c1e5b38bed09e23b55a18f2cca965579c
-size 109246990
diff --git a/podman-5.0.3.obscpio b/podman-5.0.3.obscpio
new file mode 100644
index 0000000..cd04a81
--- /dev/null
+++ b/podman-5.0.3.obscpio
@@ -0,0 +1,3 @@
+version https://git-lfs.github.com/spec/v1
+oid sha256:e03fd992b687d7721fe773273c10d6d4c0be681dc42ba2df5e171651e1d139ff
+size 109267982
diff --git a/podman.changes b/podman.changes
index 2c61198..a882be1 100644
--- a/podman.changes
+++ b/podman.changes
@@ -1,3 +1,18 @@
+-------------------------------------------------------------------
+Fri May 10 18:10:00 UTC 2024 - danish.prakash@suse.com
+
+- Update to version 5.0.3:
+  * Bump to v5.0.3
+  * Update release notes for v5.0.3
+  * [v5.0] Bump Buildah to v1.35.4 CVE-2024-3727 (bsc#1224122)
+  * [CI:DOCS] Fix artifact action
+  * [CI:DOCS] Build & upload release artifacts with GitHub Actions
+  * Fix machine volumes with long path and paths with dashes
+  * Disable failing bud test
+  * Remove unncessary lines at the end of specfile summary
+  * Add GitHub action to update version on Podman.io
+  * Bump to v5.0.3-dev
+
 -------------------------------------------------------------------
 Fri Apr 19 12:17:30 UTC 2024 - Johannes Kastl <opensuse_buildservice@ojkastl.de>
 
diff --git a/podman.obsinfo b/podman.obsinfo
index 3807ae0..0aae7e7 100644
--- a/podman.obsinfo
+++ b/podman.obsinfo
@@ -1,4 +1,4 @@
 name: podman
-version: 5.0.2
-mtime: 1713363763
-commit: 3304dd95b8978a8346b96b7d43134990609b3b29
+version: 5.0.3
+mtime: 1715355434
+commit: d08315df35cb6e95f65bf3935f529295c6e54742
diff --git a/podman.spec b/podman.spec
index e48c258..f7e724f 100644
--- a/podman.spec
+++ b/podman.spec
@@ -22,7 +22,7 @@
 %bcond_without  apparmor
 
 Name:           podman
-Version:        5.0.2
+Version:        5.0.3
 Release:        0
 Summary:        Daemon-less container engine for managing containers, pods and images
 License:        Apache-2.0