She is Bhargavi and also Samudra Tanayee. Bhargavi since she is the daughter of Bhrigu Maharshi. Bhrigu was one of the Saptarishis (Seven Sages) born out of the Mind of Brahma, they are called Manasa Putras. The purpose of creating them was to educate the inhabitants of this earth plane about the secrets of this universe and the mysticism surrounding it. They came to the earth plane and started guiding the people here on how to perform Homas and Havanas and its benefits. Maharishi Bhrigu felt that the Homas and Havanas would enrich the mind and lead one to enlightenment, but will it satisfy hunger?
While the other six Rishis of the Saptarishi group adored Maa Saraswathi, the Goddess of Wisdom, Bhrigu set out to find a Deity who could satisfy hunger. Humans were mortals who were subjected to hunger and thirst. Bhrigu felt that before preparing them to thread the path of enlightenment it was important to help them sustain and nourish their body.
He went to Varuna, the Water God and learnt from him that Anna (Food) is the only means to satisfy hunger and help nourish the body.
Bhrigu did penance and invoked Maha Lakshmi, the Goddess of Abundance. She blessed humans with abundance in cultivating food grain which sustain their body and keep them nourished to pursue the path of enlightenment. Since it was Maharshi Bhrigu who invoked her she is called Bhrigu Putri or Bhargavi. This is her Tattva (Absolute State) part which was in the unmanifested form. As the manifested form she is Samudra Tanayee.
At the time of churning of the ocean by devas and asuras to obtain ambrosia there were many precious things that emerged after Halahala (Poison). Kamadhenu the wishfulfilling cow, Ucchaisravas the flying horse, Airavatha the white elephant, Kaustubhamani the divine gem, Padmaraga the padparadscha sapphire, Parijatha the divine flower, Apsaras the celestial dancers and then it was Maha Lakshmi. Since she emerged out of the ocean she is called Samura Tanayee.
She emerged sitting on a lotus flower which blooms in muddy marsh yet remains clean. This signifies that a seeker has to be a part of the mundane world within the world but also unsullied by the world. She has four arms representing the four purushrthas namely Dharma (Righteousness), Artha (Prosperity), Kama (Desire) and Moksha (Liberation). She is seen wearing red sari symbolising active energy with gold border which indicates opulence, the cascade of gold coins from her palm indicates the inexhaustibly. Two elephants on either side are depicted as pouring water from a pot; the elephant is the symbol of royal power and the water gush from the pot indicate the constant effort in the form of sadhana by the devotee to obtain her grace.
I bow to that Absolute State of Maha Lakshmi and entreat for the welfare of the entire mankind.