diff --git a/CHANGELOG.md b/CHANGELOG.md
index 31a5fd7fa..5f3c4ec29 100644
--- a/CHANGELOG.md
+++ b/CHANGELOG.md
@@ -1,5 +1,12 @@
 # Changelog
 
+## [v2.4.0](https://github.com/infobloxopen/terraform-provider-infoblox/tree/v2.4.0) (2023-05-29)
+- IPV4/IPV6 Network Container resources reworked:
+  - 'parent_cidr' and 'allocate_prefix_len' are added for dynamic allocation
+  - both the resources now support the dynamic allocation determined by 'parent_cidr'
+  - added examples for dynamic allocation in each IPV4 and IPV6 resources
+- Bugfixes
+
 ## [v2.3.0](https://github.com/infobloxopen/terraform-provider-infoblox/tree/v2.3.0) (2023-04-13)
 - Minimal required Go-lang version is bumped up
 - infoblox_ptr_record resource's behaviour changes (see the documentation changes for the details)
diff --git a/README.md b/README.md
index ee875891c..02b588a76 100644
--- a/README.md
+++ b/README.md
@@ -7,7 +7,7 @@
 This is a provider plugin for Terraform to manage Infoblox NIOS (Network Identity Operating System) resources using Terraform infrastructure as code solutions.
 The plugin enables lifecycle management of Infoblox NIOS DDI resources.
 
-The latest version of Infoblox provider is [v2.3.0](https://github.com/infobloxopen/terraform-provider-infoblox/releases/tag/v2.3.0)
+The latest version of Infoblox provider is [v2.4.0](https://github.com/infobloxopen/terraform-provider-infoblox/releases/tag/v2.4.0)
 
 ## Provider Features
 
diff --git a/docs/resources/infoblox_ipv4_network_container.md b/docs/resources/infoblox_ipv4_network_container.md
index d47e23f2e..db207c149 100644
--- a/docs/resources/infoblox_ipv4_network_container.md
+++ b/docs/resources/infoblox_ipv4_network_container.md
@@ -7,12 +7,16 @@ The following list describes the parameters you can define in the network contai
 resource block:
 
 * `network_view`: optional, specifies the network view in which to create the network container; if a value is not specified, the name `default` is used as the network view.
-* `cidr`: required, specifies the network block to use for the network container; do not use an IPv6 CIDR for an IPv4 network container.
+* `cidr`: required only if `parent_cidr` is not set, specifies the network block to use for the network container; do not use an IPv6 CIDR for an IPv4 network container.
+* `parent_cidr`: required only if `cidr` is not set, specifies the network container from which next available network container must be allocated.
+* `allocate_prefix_len`: required only if `parent_cidr` is set, defines length of netmask for a network container that should be allocated from network container, determined by `parent_cidr`.
 * `comment`: optional, describes the network container.
 * `ext_attrs`: optional, specifies the set of NIOS extensible attributes that will be attached to the network container.
 
 !> Once the network container is created, the `network_view` and `cidr` parameter values cannot be changed by performing an `update` operation.
 
+!> Once the network container is created dynamically, the `parent_cidr` and `allocate_prefix_len` parameter values cannot be changed.
+
 ### Examples of the Network Container Resource
 
 ```hcl
@@ -32,5 +36,15 @@ resource "infoblox_ipv4_network_container" "v4net_c2" {
   })
 }
 
-// so far, we do not support dynamic allocation of network containers
+// full set of parameters for dynamic allocation of network containers
+resource "infoblox_ipv4_network_container" "v4net_c3" {
+  parent_cidr = infoblox_ipv4_network_container.v4net_c2.cidr
+  allocate_prefix_len = 26
+  network_view = infoblox_ipv4_network_container.v4net_c2.network_view
+  comment = "dynamic allocation of network container"
+  ext_attrs = jsonencode({
+    "Site" = "remote office"
+    "Country" = "Australia"
+  })
+}
 ```
diff --git a/docs/resources/infoblox_ipv6_network_container.md b/docs/resources/infoblox_ipv6_network_container.md
index 44f10b6b6..d9062d3e5 100644
--- a/docs/resources/infoblox_ipv6_network_container.md
+++ b/docs/resources/infoblox_ipv6_network_container.md
@@ -7,12 +7,16 @@ The following list describes the parameters you can define in the network contai
 resource block:
 
 * `network_view`: optional, specifies the network view in which to create the network container; if a value is not specified, the name `default` is used as the network view.
-* `cidr`: required, specifies the network block to use for the network container; do not use an IPv4 CIDR for an IPv6 network container.
+* `cidr`: required only if `parent_cidr` is not set, specifies the network block to use for the network container; do not use an IPv4 CIDR for an IPv6 network container.
+* `parent_cidr`: required only if `cidr` is not set, specifies the network container from which next available network container must be allocated.
+* `allocate_prefix_len`: required only if `parent_cidr` is set, defines length of netmask for a network container that should be allocated from network container, determined by `parent_cidr`.
 * `comment`: optional, describes the network container.
 * `ext_attrs`: optional, specifies the set of NIOS extensible attributes that will be attached to the network container.
 
 !> Once the network container is created, the `network_view` and `cidr` parameter values cannot be changed by performing an `update` operation.
 
+!> Once the network container is created dynamically, the `parent_cidr` and `allocate_prefix_len` parameter values cannot be changed.
+
 ### Examples of the Network Container Resource
 
 ```hcl
@@ -32,5 +36,15 @@ resource "infoblox_ipv6_network_container" "v6net_c2" {
   })
 }
 
-// so far, we do not support dynamic allocation of network containers
+// full set of parameters for dynamic allocation of network containers
+resource "infoblox_ipv6_network_container" "v6net_c3" {
+  parent_cidr = infoblox_ipv6_network_container.v6net_c2.cidr
+  allocate_prefix_len = 97
+  network_view = infoblox_ipv6_network_container.v6net_c2.network_view
+  comment = "dynamic allocation of network container"
+  ext_attrs = jsonencode({
+    "Tenant ID" = "terraform_test_tenant"
+    Site = "Test site"
+  })
+}
 ```