It’s raining insurance IPOs in the primary market, with HDFC Life being the latest entrant into this league. The country’s third largest private life insurer’s Rs 8,695-crore public issue opened for subscription on Tuesday, after having finalised an allocation of Rs 2,322 crore to a clutch of anchor investors including BlackRock Global Funds, ICICI Prudential, SBI FM Equity India and Government of Singapore. The issue, which will close on November 9, has seen a 5% susbcription so far.