Bhashya
श्रद्धाशब्दा आपो द्युलोकाग्नौ हुताः सोमो राजा संभवतीति ।ता आपः कर्मसमवायिन्यः इतरैश्च भूतैरनुगता द्युलोकं प्राप्य चन्द्रत्वमापन्नाः शरीराद्यारम्भिका इष्टाद्युपासकानां भवन्ति ।अन्त्यायां च शरीराहुतावग्नौ हुतायामग्निना दह्यमाने शरीरे तदुत्था आपो धूमेन सह ऊर्ध्वं यजमानमावेष्ट्य चन्द्रमण्डलं प्राप्य कुशमृत्तिकास्थानीया बाह्यशरीरारम्भिका भवन्ति ।तदारब्धेन च शरीरेण इष्टादिफलमुपभुञ्जाना आसते ॥
In plain words
The waters known by the name of faith, offered as an oblation in the heavenly fire, become King Soma. Accompanied by other subtle elements tied to their ritual actions, these waters reach the celestial realm, take on the state of the moon, and serve as the material cause for the bodies of those who performed sacrifices and worship. Then, when the final funeral oblation is cast into the cremation fire and the body burns, the moisture rising from it envelops the departed soul. Rising along with the smoke, they reach the lunar sphere where they serve as a foundational material—much like sacred grass and clay—forming a temporary outer body. Enclothed in this body created by those waters, they remain there, enjoying the fruits of their ritual deeds.
Close to the Sanskrit
The waters designated by the word 'faith', offered in the heavenly fire, become King Soma. Those waters, associated with ritual acts and accompanied by other elements, having reached the heavenly world and attained moonhood, become the initiators of bodies for those who perform sacrifices and worship. And when the final body-oblation is offered in the fire, as the body is being burned by the fire, the waters arising from it, enveloping the sacrificer along with the smoke, reach the lunar orb and become like sacred grass and clay, serving as the initiators of the outer body. And having a body commenced by that, they remain enjoying the fruit of sacrifices and the like.