diff --git a/projects/rocm-smi-lib/.gitignore b/projects/rocm-smi-lib/.gitignore
index 632b6ea6c9..3729043d02 100644
--- a/projects/rocm-smi-lib/.gitignore
+++ b/projects/rocm-smi-lib/.gitignore
@@ -117,12 +117,12 @@ CTestTestfile.cmake
 _deps
 
 #
-# ROCm files
-# Removes generated config headers like rocmsmi64Config.h & oamConfig.h
+# below files are generated via CMake
 #
 *Config.h
+python_smi_tools/rsmiBindings.py
 
 #
 # Fake SYSFS files
 #
-/device/*
\ No newline at end of file
+/device/*
diff --git a/projects/rocm-smi-lib/CMakeLists.txt b/projects/rocm-smi-lib/CMakeLists.txt
index 967033d294..4199ef556f 100755
--- a/projects/rocm-smi-lib/CMakeLists.txt
+++ b/projects/rocm-smi-lib/CMakeLists.txt
@@ -35,7 +35,7 @@ find_program (GIT NAMES git)
 
 ## Setup the package version based on git tags.
 set(PKG_VERSION_GIT_TAG_PREFIX "rsmi_pkg_ver")
-get_package_version_number("1.0.0" ${PKG_VERSION_GIT_TAG_PREFIX} GIT)
+get_package_version_number("5.0.0" ${PKG_VERSION_GIT_TAG_PREFIX} GIT)
 message("Package version: ${PKG_VERSION_STR}")
 set(${AMD_SMI_LIBS_TARGET}_VERSION_MAJOR "${VERSION_MAJOR}")
 set(${AMD_SMI_LIBS_TARGET}_VERSION_MINOR "${VERSION_MINOR}")
@@ -232,7 +232,7 @@ configure_package_config_file(
 
 write_basic_package_version_file(
     ${CMAKE_CURRENT_BINARY_DIR}/rocm_smi-config-version.cmake
-    VERSION "${AMD_SMI_LIBS_TARGET_VERSION_MAJOR}.${AMD_SMI_LIBS_TARGET_VERSION_MINOR}.${AMD_SMI_LIBS_TARGET_VERSION_PATCH}"
+    VERSION "${PKG_VERSION_STR}"
     COMPATIBILITY SameMajorVersion
     )
 
@@ -247,7 +247,7 @@ install(
 # Create cmake target
 # Add all targets to the build-tree export set
 export(TARGETS ${ROCM_SMI_TARGET} ${OAM_TARGET}
-  FILE "${PROJECT_BINARY_DIR}/rcom_smi_target.cmake")
+  FILE "${PROJECT_BINARY_DIR}/rocm_smi_target.cmake")
 
 # Export the package for use from the build-tree
 # (this registers the build-tree with a global CMake-registry)
@@ -262,9 +262,11 @@ install(EXPORT rocm_smiTargets
 #License file
 set(CPACK_RPM_PACKAGE_LICENSE "NCSA")
 # install license file in share/doc/rocm_smi-asan folder
-install(FILES ${CPACK_RESOURCE_FILE_LICENSE}
+if( ENABLE_ASAN_PACKAGING )
+  install(FILES ${CPACK_RESOURCE_FILE_LICENSE}
         DESTINATION ${CMAKE_INSTALL_DATADIR}/doc/${ROCM_SMI}-asan RENAME LICENSE.txt
         COMPONENT asan)
+endif()
 install( FILES ${CPACK_RESOURCE_FILE_LICENSE}
         DESTINATION ${CMAKE_INSTALL_DATADIR}/doc/${ROCM_SMI} RENAME LICENSE.txt
         COMPONENT dev)
diff --git a/projects/rocm-smi-lib/python_smi_tools/rsmiBindings.py b/projects/rocm-smi-lib/python_smi_tools/rsmiBindings.py.in
similarity index 98%
rename from projects/rocm-smi-lib/python_smi_tools/rsmiBindings.py
rename to projects/rocm-smi-lib/python_smi_tools/rsmiBindings.py.in
index d3a81ee411..b6e7f2474d 100644
--- a/projects/rocm-smi-lib/python_smi_tools/rsmiBindings.py
+++ b/projects/rocm-smi-lib/python_smi_tools/rsmiBindings.py.in
@@ -12,16 +12,16 @@ import os
 # Use ROCm installation path if running from standard installation
 # With File Reorg rsmiBindings.py will be installed in  /opt/rocm/libexec/rocm_smi.
 # relative path changed accordingly
-path_librocm = os.path.dirname(os.path.realpath(__file__)) + '/../../lib/librocm_smi64.so'
+path_librocm = os.path.dirname(os.path.realpath(__file__)) + '/../../@CMAKE_INSTALL_LIBDIR@/librocm_smi64.so.@VERSION_MAJOR@'
 if not os.path.isfile(path_librocm):
     print('Unable to find %s . Trying /opt/rocm*' % path_librocm)
     for root, dirs, files in os.walk('/opt', followlinks=True):
-        if 'librocm_smi64.so' in files:
-            path_librocm = os.path.join(os.path.realpath(root), 'librocm_smi64.so')
+        if 'librocm_smi64.so.@VERSION_MAJOR@' in files:
+            path_librocm = os.path.join(os.path.realpath(root), 'librocm_smi64.so.@VERSION_MAJOR@')
     if os.path.isfile(path_librocm):
         print('Using lib from %s' % path_librocm)
     else:
-        print('Unable to find librocm_smi64.so')
+        print('Unable to find librocm_smi64.so.@VERSION_MAJOR@')
 
 # ----------> TODO: Support static libs as well as SO
 
@@ -30,7 +30,7 @@ try:
     rocmsmi = CDLL(path_librocm)
 except OSError:
     print('Unable to load the rocm_smi library.\n'\
-          'Set LD_LIBRARY_PATH to the folder containing librocm_smi64.\n'\
+          'Set LD_LIBRARY_PATH to the folder containing librocm_smi64.so.@VERSION_MAJOR@\n'\
           '{0}Please refer to https://github.com/'\
           'RadeonOpenCompute/rocm_smi_lib for the installation guide.{1}'\
           .format('\33[33m', '\033[0m'))
@@ -638,4 +638,4 @@ rsmi_nps_mode_type = rsmi_nps_mode_type_t
 # Usage example to get corresponding names:
 # nps_mode_type_l[rsmi_nps_mode_type_t.RSMI_MEMORY_PARTITION_NPS2]
 # will return string 'NPS2'
-nps_mode_type_l = ['NPS1', 'NPS2', 'NPS4', 'NPS8']
\ No newline at end of file
+nps_mode_type_l = ['NPS1', 'NPS2', 'NPS4', 'NPS8']
diff --git a/projects/rocm-smi-lib/rocm_smi/CMakeLists.txt b/projects/rocm-smi-lib/rocm_smi/CMakeLists.txt
index f9b7c4181a..ae8c017933 100755
--- a/projects/rocm-smi-lib/rocm_smi/CMakeLists.txt
+++ b/projects/rocm-smi-lib/rocm_smi/CMakeLists.txt
@@ -39,7 +39,7 @@ message("Package version: ${PKG_VERSION_STR}")
 
 # Debian package specific variables
 # Set a default value for the package version
-get_version_from_tag("1.0.0.0" ${SO_VERSION_GIT_TAG_PREFIX} GIT)
+get_version_from_tag("5.0.0.0" ${SO_VERSION_GIT_TAG_PREFIX} GIT)
 
 # VERSION_* variables should be set by get_version_from_tag
 if ( ${ROCM_PATCH_VERSION} )
@@ -54,6 +54,10 @@ set(${ROCM_SMI}_VERSION_PATCH "0")
 set(${ROCM_SMI}_VERSION_BUILD "0")
 message("SOVERSION: ${SO_VERSION_STRING}")
 
+# Configure rsmiBindings.py.in with SO major version:
+configure_file(
+  "${COMMON_SRC_ROOT}/python_smi_tools/rsmiBindings.py.in"
+  "${COMMON_SRC_ROOT}/python_smi_tools/rsmiBindings.py")
 
 # Create a configure file to get version info from within library
 configure_file(
diff --git a/projects/rocm-smi-lib/src/rocm_smi_main.cc b/projects/rocm-smi-lib/src/rocm_smi_main.cc
index 72b0d5d5f6..3a5565dbe9 100755
--- a/projects/rocm-smi-lib/src/rocm_smi_main.cc
+++ b/projects/rocm-smi-lib/src/rocm_smi_main.cc
@@ -345,8 +345,9 @@ RocmSMI::Initialize(uint64_t flags) {
     if (ConstructBDFID(devices_[i]->path(), &bdfid) != 0) {
       std::cerr << "Failed to construct BDFID." << std::endl;
       ret = 1;
+    } else {
+      devices_[i]->set_bdfid(bdfid);
     }
-    devices_[i]->set_bdfid(bdfid);
   }
   if (ret != 0) {
     throw amd::smi::rsmi_exception(RSMI_INITIALIZATION_ERROR,