OGLE-TR-132b transits a very metal-rich F dwarf about 2000 pc from the Sun, in the Galactic disc towards Carina. It orbits very close to its host star (a = 0.03 AU) and has an equilibrium temperature of nearly 2000 K. Using rapid-cadence transit photometry from the FORS2 camera on the VLT and SUSI2 on the NTT, and high-resolution spectroscopy with UVES on the VLT, we refine the shape of the transit light curve and the parameters of the system. In particular, we improve the planetary radius estimate, R=1.18 +- 0.07 R_J and provide very precise ephemeris, T_tr=2453142.59123 +- 0.0003 BJD and P=1.689868 +- 0.000003 days. The obtained planetary mass is 1.14 +- 0.12 M_J. Our results give a slightly smaller and lighter star, and bigger planet, than previous values. As the VLT/FORS2 light curve obtained in this analysis with the deconvolution photometry algorithm DECPHOT shows a transit depth in disagreement with the one obtained by a previous study using the same data, we analyze them with two other reduction methods (aperture and image subtraction). The light curves obtained with the three methods are in good agreement, though deconvolution-based photometry is significantly more precise. It appears from these results that the smaller transit depth obtained in the previous study was due to a normalisation problem inherent to the reduction procedure used.
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