diff --git a/components/org.wso2.carbon.identity.application.authenticator.magiclink/pom.xml b/components/org.wso2.carbon.identity.application.authenticator.magiclink/pom.xml
index d851cbea..61c0b827 100644
--- a/components/org.wso2.carbon.identity.application.authenticator.magiclink/pom.xml
+++ b/components/org.wso2.carbon.identity.application.authenticator.magiclink/pom.xml
@@ -20,7 +20,7 @@
         <groupId>org.wso2.carbon.identity.local.auth.magiclink</groupId>
         <artifactId>identity-local-auth-magiclink</artifactId>
         <relativePath>../../pom.xml</relativePath>
-        <version>0.0.2-SNAPSHOT</version>
+        <version>0.0.3</version>
     </parent>
 
     <modelVersion>4.0.0</modelVersion>
diff --git a/pom.xml b/pom.xml
index 34638949..583226d0 100644
--- a/pom.xml
+++ b/pom.xml
@@ -25,13 +25,13 @@
     <groupId>org.wso2.carbon.identity.local.auth.magiclink</groupId>
     <artifactId>identity-local-auth-magiclink</artifactId>
     <packaging>pom</packaging>
-    <version>0.0.2-SNAPSHOT</version>
+    <version>0.0.3</version>
     <name>WSO2 Carbon - MagicLink Authenticator</name>
     <scm>
         <url>https://github.com/wso2-extensions/identity-local-auth-magiclink.git</url>
         <developerConnection>scm:git:https://github.com/wso2-extensions/identity-local-auth-magiclink.git</developerConnection>
         <connection>scm:git:https://github.com/wso2-extensions/identity-local-auth-magiclink.git</connection>
-        <tag>HEAD</tag>
+        <tag>v0.0.3</tag>
     </scm>
     <modules>
         <module>components/org.wso2.carbon.identity.application.authenticator.magiclink</module>