। ॥
In plain words
O Kāmākṣī, the elephant of my mind is always tied with chains of devotion to the sapphire pillar made of your glance's light, and yet, behold the wonder, it lets go of both stambha, rigid pride, and bandha, bondage.
Word for word
Kāmākṣī, always this, to the sapphire pillar made of your glance-lustre-heap tied though with devotion-chains, my mind-elephant, stambha (pillar, stiffness) and bandha also releases, ah, a wonder!