पितामहमहेन्द्राभ्याम् both by Brahma and Indra, अनिलेन च and by the Windgod, रक्षितस्य for me being protected, मे to me, अस्त्रेण by astra, बद्धस्यापि even though bound, भयम् fear, न जायते not having

'Even though I am bound by the astra, I have the protection of both Brahma and Indra as well as the Windgod. Hence there is no cause for apprension.