diff --git a/NEWS b/NEWS
index 225bdba90..e03000ed5 100644
--- a/NEWS
+++ b/NEWS
@@ -1,3 +1,24 @@
+3.23.2
+======
+* Implement Pad configuration OSD [Carlos; #771067]
+* Show overview on three-finger touchpad pinch [Carlos; #765937]
+* Summarize network sections with too many devices [Florian; #773892]
+* Always show primary network icon when connected [Florian; #773890]
+* Fix fullscreen transitions on wayland [Rui; #770345]
+* Work around portal failures by using a URL without HTPPS redirect [Debarshi; #769940]
+* Fix app view hiding when no usage data is available [Florian, Xiaoguang; #774381]
+* Misc. bug fixes [Florian, Ray; #773875, #740043, #773893, #774643, #774805]
+
+Contributors:
+  Carlos Garnacho, Rui Matos, Florian Müllner, Debarshi Ray, Ray Strode,
+  Xiaoguang Wang
+
+Translations:
+  Balázs Meskó [hu], Fabio Tomat [fur], Marek Cernocky [cs], Stas Solovey [ru],
+  Daniel Mustieles [es], Marek Černocký [cs], Piotr Drąg [pl],
+  Rafael Fontenelle [pt_BR], Baurzhan Muftakhidinov [kk], Jiri Grönroos [fi],
+  Kjartan Maraas [nb]
+
 3.23.1
 ======
 * Request periodic scans while WiFi list is open [Dan; #767918]
diff --git a/configure.ac b/configure.ac
index f365c777a..e120f9718 100644
--- a/configure.ac
+++ b/configure.ac
@@ -1,5 +1,5 @@
 AC_PREREQ(2.63)
-AC_INIT([gnome-shell],[3.23.1],[https://bugzilla.gnome.org/enter_bug.cgi?product=gnome-shell],[gnome-shell])
+AC_INIT([gnome-shell],[3.23.2],[https://bugzilla.gnome.org/enter_bug.cgi?product=gnome-shell],[gnome-shell])
 AX_IS_RELEASE([git-directory])
 
 AC_CONFIG_HEADERS([config.h])
@@ -78,7 +78,7 @@ AC_MSG_RESULT($enable_systemd)
 CLUTTER_MIN_VERSION=1.21.5
 GOBJECT_INTROSPECTION_MIN_VERSION=1.49.1
 GJS_MIN_VERSION=1.47.0
-MUTTER_MIN_VERSION=3.23.1
+MUTTER_MIN_VERSION=3.23.2
 GTK_MIN_VERSION=3.15.0
 GIO_MIN_VERSION=2.45.3
 LIBECAL_MIN_VERSION=3.5.3