diff --git a/CMakeLists.txt b/CMakeLists.txt
index 3d9202fb5f..a5c17ba18a 100644
--- a/CMakeLists.txt
+++ b/CMakeLists.txt
@@ -51,30 +51,22 @@ set( CMAKE_VERBOSE_MAKEFILE on )
 include( utils.cmake )
 include( GNUInstallDirs )
 
+#Parse Version
+message( STATUS "ROCM_VERSION = ${ROCM_VERSION}" )
+parse_rocm_version( ${ROCM_VERSION} )
+
 set( CPACK_PACKAGING_INSTALL_PREFIX "/opt/rocm" CACHE PATH "default cpack directory" )
 set( BUILD_SHARED_LIBS ON CACHE BOOL "Build shared library (.so) or not." )
 set( CPACK_GENERATOR "TGZ;DEB;RPM" CACHE STRING "package types to be produced " )
 set( COPYRIGHT_FILE "${CMAKE_CURRENT_SOURCE_DIR}/copyright"  )
 set( BUILD_DIR ${CMAKE_CURRENT_BINARY_DIR} )
 
-if( EXISTS ${CMAKE_CURRENT_SOURCE_DIR}/rocm_version.h.in )
-  file( READ "${CMAKE_CURRENT_SOURCE_DIR}/rocm_version.h.in" VER )
-
-  string( REGEX MATCH "ROCM_VERSION_MAJOR   ([0-9]*)" _ ${VER} )
-  set( ROCM_VERSION ${CMAKE_MATCH_1} )
-  string( REGEX MATCH "ROCM_VERSION_MINOR   ([0-9]*)" _ ${VER} )
-  set( ROCM_VERSION "${ROCM_VERSION}.${CMAKE_MATCH_1}" )
-  string( REGEX MATCH "ROCM_VERSION_PATCH   ([0-9]*)" _ ${VER} )
-  set( ROCM_VERSION "${ROCM_VERSION}.${CMAKE_MATCH_1}" )
-  message( STATUS "ROCM_VERSION = ${ROCM_VERSION}" )
-else()
-  message( FATAL_ERROR "${CMAKE_CURRENT_SOURCE_DIR}/rocm_version.h.in does not exists." )
-endif()
-
-## Set the version
-parse_rocm_version( ${ROCM_VERSION} )
+## Set variables
 set_variables()
 
+set( SO_MAJOR "1")
+set( SO_MINOR "0" )
+
 if( NOT DEFINED BUILD_ID )
   set( BUILD_ID "9999")
 endif()
@@ -97,10 +89,9 @@ set( CMAKE_SHARED_LINKER_FLAGS ${CMAKE_SHARED_LINKER_FLAGS} "-Wl,-z,nodelete -Wl
 target_include_directories( ${CORE_TARGET} PRIVATE ${BUILD_DIR} )
 
 ## Set the VERSION and SOVERSION values
-set( PATCH_STRING "${VERSION_PATCH}.${ROCM_LIBPATCH_VERSION}" )
-set( SO_VERSION_STRING "${VERSION_MAJOR}.${VERSION_MINOR}.${PATCH_STRING}" )
+set( SO_VERSION_STRING "${SO_MAJOR}.${SO_MINOR}.${ROCM_LIBPATCH_VERSION}" )
 set_property( TARGET ${CORE_TARGET} PROPERTY VERSION "${SO_VERSION_STRING}" )
-set_property( TARGET ${CORE_TARGET} PROPERTY SOVERSION "${VERSION_MAJOR}" )
+set_property( TARGET ${CORE_TARGET} PROPERTY SOVERSION "${SO_MAJOR}" )
 
 
 #intallation directive
diff --git a/README.txt b/README.txt
index e0e2a7e27d..42581aa1b1 100644
--- a/README.txt
+++ b/README.txt
@@ -14,6 +14,9 @@ For building :
              -DCMAKE_VERBOSE_MAKEFILE=1 \
              -DCMAKE_INSTALL_PREFIX=./ \
              -DCPACK_GENERATOR=DEB \
+             -DCPACK_DEBIAN_PACKAGE_RELEASE="local.9999~20.04" \
+             -DCPACK_RPM_PACKAGE_RELEASE="local.9999" \
+             -DROCM_VERSION="5.5.0" \
              ..
 
          make
diff --git a/rocm_version.h.in b/rocm_version.h.in
index 03539232be..869541ae11 100644
--- a/rocm_version.h.in
+++ b/rocm_version.h.in
@@ -53,10 +53,10 @@ extern "C" {
 #define LIB_API_PUBLIC __attribute__ ((visibility ("default")))
 
 
+#define ROCM_VERSION_MAJOR   @VERSION_MAJOR@
+#define ROCM_VERSION_MINOR   @VERSION_MINOR@
+#define ROCM_VERSION_PATCH   @VERSION_PATCH@
 
-#define ROCM_VERSION_MAJOR   1
-#define ROCM_VERSION_MINOR   0
-#define ROCM_VERSION_PATCH   0
 #define ROCM_BUILD_INFO	     "@PACKAGE_BUILD_INFO@"
 
 typedef enum {
diff --git a/utils.cmake b/utils.cmake
index d3431590e7..13fa9b8a17 100644
--- a/utils.cmake
+++ b/utils.cmake
@@ -128,6 +128,26 @@ function( set_variables )
         endif()
     endif()
 
+    #set libpatch version
+    if(NOT DEFINED ROCM_LIBPATCH_VERSION)
+      set(ROCM_LIBPATCH_VERSION "${VERSION_MAJOR}")
+      string(LENGTH ${VERSION_MINOR} LENSTR)
+      if(LENSTR EQUAL 1) # length of version cannot be zero hence it would be 1 or greater
+         set(ROCM_LIBPATCH_VERSION "${ROCM_LIBPATCH_VERSION}0${VERSION_MINOR}")
+      else() # length is greater than 1
+         set(ROCM_LIBPATCH_VERSION "${ROCM_LIBPATCH_VERSION}${VERSION_MINOR}")
+      endif()
+
+      string(LENGTH ${VERSION_PATCH} LENSTR)
+      if(LENSTR EQUAL 1) # length of version cannot be zero hence it would be 1 or greater
+         set(ROCM_LIBPATCH_VERSION "${ROCM_LIBPATCH_VERSION}0${VERSION_PATCH}")
+      else() # length is greater than 1
+         set(ROCM_LIBPATCH_VERSION "${ROCM_LIBPATCH_VERSION}${VERSION_PATCH}")
+      endif()
+
+      set(ROCM_LIBPATCH_VERSION "${ROCM_LIBPATCH_VERSION}" PARENT_SCOPE )
+    endif()
+
     if ( DEFINED CPACK_RPM_PACKAGE_RELEASE )
       set ( CPACK_RPM_PACKAGE_RELEASE ${CPACK_RPM_PACKAGE_RELEASE} PARENT_SCOPE )
     else()
@@ -146,6 +166,7 @@ function( set_variables )
     message(STATUS "VERSION_MAJOR : ${VERSION_MAJOR}" )
     message(STATUS "VERSION_MINOR : ${VERSION_MINOR}" )
     message(STATUS "VERSION_PATCH : ${VERSION_PATCH}" )
+    message(STATUS "ROCM_LIBPATCH_VERSION : ${ROCM_LIBPATCH_VERSION}" )
     message(STATUS "VERSION_COMMIT_COUNT : ${VERSION_COMMIT_COUNT}" )
     message(STATUS "VERSION_HASH : ${VERSION_HASH}" )
     message(STATUS "CPACK_DEBIAN_PACKAGE_RELEASE : ${CPACK_DEBIAN_PACKAGE_RELEASE}" )