Shakib had suffered a finger injury during the game in Chennai while facing India pacer Jasprit Bumrah. The second game is scheduled to start on Friday.
Visiting skipper Najmul Hossain Shanto (20) and veteran Shakib Al Hasan (32) got starts in the first innings but could not convert into big knocks.
After disappointing scores of 6 and 17 in the two innings at the M A Chidambaram Stadium, the star batter was left frustrated.
The 29-year-old was appointed the skipper ahead of the T20 World Cup, which ended in a title round defeat to India in June before losing to the West Indies in an three-match away series in August
Across the two teams, the 103-Test veteran by far faced the number of balls to wear out the opposition attack comprising Pat Cummins, Josh Hazlewood and Mitchell Starc
The last time Pant played a Test in Australia, he helped India beat Australia at the Gabba, leading them to secure the series 2-1
The 38-year-old Dhawan retired from international and domestic cricket late in August after having played 34 Tests, 167 ODIs and 68 T20Is for India between 2013 and 2022.
Pant (731), who smashed a stunning century in the opening game of the two-Test series against Bangladesh in Chennai, was placed sixth, while opener Yashasvi Jaiswal (751), moved up to fifth.
McCullum, who has already transformed England's Test team, is set to take over the reins of the limited-overs squads when England tour India next January.
Veteran pacer Ishant Sharma's name didn't figure in the list which has the country's fastest bowler Mayank Yadav along with another Team India contender Harshit Rana.
Sri Lanka skipper Dhananjaya de Silva will be looking to clinch the series 2-0 after winning the 1st Test against Tim Southee's New Zealand earlier.
Joe Root went past Sri Lankan legend Kumar Sangakkara recently to move to the sixth spot in the list of highest run-getters in the longest format.
Check India vs Bangladesh 2nd Test tickets price and how to buy tickets here
Afridi, who was dropped for the second and final Test against Bangladesh earlier this month due to poor form, was back in the squad for the first Test in Multan.
Lord's owner Marylebone Cricket Club had come in for criticism for the ticket prices for this summer's Test between England and Sri Lanka.
Pant will be an integral part of the Indian batting lineup during the upcoming five-Test Border-Gavaskar series beginning in Perth on November 22.
The finalists of the inaugural World Test Championship in 2019-21 cycle, India and New Zealand, will face off in three Tests to be played at Bengaluru, Pune and Mumbai from October 16.
The BCCI on Tuesday announced the Rest of India squad, led by Ruturaj Gaikwad, which will take on reigning Ranji Trophy champions Mumbai in Lucknow from October 1-5.
Since the tournament's inception in 2009, India have managed to reach the final only once -- in 2020 when they lost to nemesis Australia. India have also played WODI World Cup final in 2017.
England are set to arrive in Pakistan on October 3 for a three-Test series beginning in Multan on October 7, with the Pakistan Cricket Board selectors expected to announce the Test squad.