Verse 2

आसीत्पातालकुहरे विद्रावितसुरासुरः ।हिरण्यकशिपुर्नाम नारायणपराक्रमः

In plain words

There was, in a cavern of Pātāla, one who had routed both the suras and the asuras, named Hiraṇyakaśipu, whose might was like that of Nārāyaṇa.