This stotram is the prayer stated to have been made by Lord Indra in praise of Goddess Mahalakshmi. This occurs in the Padma Purana. It is considered that those who chant this hymn gain success in all walks of life. The phalasruti says that Goddess Lakshmi would be pleased with all those who recite this prayer; that the sins of those who recite this stotra atleast once daily would be destroyed; that those who recite twice daily would be endowed with wealth and food; and that those who recite it three times daily would be able to win over all their enemies.