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Text 9
jñātvā tad dānavendrasya
hayagrīvasya ceṣṭitam
dadhāra śapharī-rūpaṁ
bhagavān harir īśvaraḥ
jñātvā — after understanding; tat — that; dānava-indrasya — of the great demon; hayagrīvasya — of Hayagrīva; ceṣṭitam — activity; dadhāra — accepted; śapharī-rūpam — the form of a fish; bhagavān — the Supreme Personality of Godhead; hariḥ — the Lord; īśvaraḥ — the supreme controller.
Understanding the acts of the great demon Hayagrīva, the Supreme Personality of Godhead, Hari, who is full of all opulences, assumed the form of a fish and saved the Vedas by killing the demon.
Because everything was inundated by water, to save the Vedas it was necessary for the Lord to assume the form of a fish.