As per an MSCI notice released on Friday, Housing Development Finance Corporation (HDFC) Ltd will be replaced by HDFC Bank on July 13, following the merger of the two leading financial services and banking companies.

On July 1, the $40 billion merger, the largest ever in India, was successfully completed. The record date for the share swap of HDFC’s shares with those of HDFC Bank has been set as July 13.

According to a Reuters report, the foreign shareholding in the merged entity would stand around 60-62%, making it possible for the company to be a part of the MSCI Index for the first time since 2013.

Even though HDFC’s shares have gained 5% so far this year, and HDFC Bank’s shares are up 2% in the year-to-date timeline, the shares declined in May as research institutes estimated an outflow of $150-200 million after MSCI said that it would use an adjustment factor of 0.50 to compute the weightage of the merged entity.

HDFC Bank will also replace HDFC on the FTSE All-World index from July 13. HDFC Bank will remain a part of other FTSE indices, including FTSE MPF-All World, FTSE Global Large Cap, and FTSE Emerging indices. HDFC Ltd will be exited from these indices and All-World Comprehensive Factor, All-World ex CW Balanced Factor, and All-World ex-CW Climate Balanced Factor indices.