diff --git a/CMakeLists.txt b/CMakeLists.txt
index 9930566a..cde5f3c0 100644
--- a/CMakeLists.txt
+++ b/CMakeLists.txt
@@ -12,7 +12,7 @@ INCLUDE (CheckCSourceCompiles)
 INCLUDE (CheckStructHasMember)
 INCLUDE (CheckLibraryExists)
 
-PROJECT (c-ares LANGUAGES C VERSION "1.32.1" )
+PROJECT (c-ares LANGUAGES C VERSION "1.32.2" )
 
 # Set this version before release
 SET (CARES_VERSION "${PROJECT_VERSION}")
@@ -30,7 +30,7 @@ INCLUDE (GNUInstallDirs) # include this *AFTER* PROJECT(), otherwise paths are w
 # For example, a version of 4:0:2 would generate output such as:
 #    libname.so   -> libname.so.2
 #    libname.so.2 -> libname.so.2.2.0
-SET (CARES_LIB_VERSIONINFO "19:1:17")
+SET (CARES_LIB_VERSIONINFO "19:2:17")
 
 
 OPTION (CARES_STATIC        "Build as a static library"                                             OFF)
diff --git a/RELEASE-NOTES.md b/RELEASE-NOTES.md
index e016cc50..808c9244 100644
--- a/RELEASE-NOTES.md
+++ b/RELEASE-NOTES.md
@@ -1,3 +1,27 @@
+## c-ares version 1.32.2 - July 15 2024
+
+This is a bugfix release.
+
+Bugfixes:
+
+* Windows: rework EventThread AFD code for better stability.
+  [PR #811](https://github.com/c-ares/c-ares/pull/811)
+* Windows: If an IP address was detected to have changed, it could lead to a
+  crash due to a bad pointer.  Regression introduced in 1.31.0.
+  [59e3a1f4](https://github.com/c-ares/c-ares/commit/59e3a1f4)
+* Windows: use `QueryPerformanceCounters()` instead of `GetTickCount64()` for
+  better time accuracy (~15ms -> ~1us).
+* Windows 32bit config change callback needs to be tagged as `stdcall` otherwise
+  could result in a crash.
+  [5c2bab35](https://github.com/c-ares/c-ares/commit/5c2bab35)
+* Tests that need accurate timing should not depend on internal symbols as there
+  are C++ equivalents in `std::chrono`.
+  [PR #809](https://github.com/c-ares/c-ares/pull/809)
+* Kqueue (MacOS, \*BSD): If the open socket count exceeded 8 (unlikely), it
+  would try to allocate a new buffer that was too small.
+  [5aad7981](https://github.com/c-ares/c-ares/commit/5aad7981)
+
+
 ## c-ares version 1.32.1 - July 7 2024
 
 This is a bugfix release.
diff --git a/configure.ac b/configure.ac
index d7a2cc43..f110698a 100644
--- a/configure.ac
+++ b/configure.ac
@@ -2,10 +2,10 @@ dnl Copyright (C) The c-ares project and its contributors
 dnl SPDX-License-Identifier: MIT
 AC_PREREQ([2.69])
 
-AC_INIT([c-ares], [1.32.1],
+AC_INIT([c-ares], [1.32.2],
   [c-ares mailing list: http://lists.haxx.se/listinfo/c-ares])
 
-CARES_VERSION_INFO="19:1:17"
+CARES_VERSION_INFO="19:2:17"
 dnl This flag accepts an argument of the form current[:revision[:age]]. So,
 dnl passing -version-info 3:12:1 sets current to 3, revision to 12, and age to
 dnl 1.
diff --git a/include/ares_version.h b/include/ares_version.h
index 07cd989a..80a5551b 100644
--- a/include/ares_version.h
+++ b/include/ares_version.h
@@ -32,11 +32,11 @@
 
 #define ARES_VERSION_MAJOR 1
 #define ARES_VERSION_MINOR 32
-#define ARES_VERSION_PATCH 1
+#define ARES_VERSION_PATCH 2
 #define ARES_VERSION                                        \
   ((ARES_VERSION_MAJOR << 16) | (ARES_VERSION_MINOR << 8) | \
    (ARES_VERSION_PATCH))
-#define ARES_VERSION_STR "1.32.1"
+#define ARES_VERSION_STR "1.32.2"
 
 #define CARES_HAVE_ARES_LIBRARY_INIT    1
 #define CARES_HAVE_ARES_LIBRARY_CLEANUP 1