tam visva-jayinam sisyam
tam—unto him (Bali Maharaja); visva-jayinam—the conqueror of the entire universe; sisyam—because of his being a disciple; bhrgavah—the brahmanas, descendants of Bhrgu like Sukracarya; sisya-vatsalah—being very pleased with the disciple; satena—by one hundred; haya-medhanam—sacrifices known as asvamedha; anuvratam—following the instruction of the brahmanas; ayajayan—caused to execute.
The brahmana descendants of Bhrgu, being very pleased with their disciple, who had conquered the entire universe, now engaged him in performing one hundred asvamedha sacrifices.
We have seen in the dispute between Maharaja Prthu and Indra that when Maharaja Prthu wanted to perform one hundred asvamedha-yajnas, Indra wanted to impede him, for it is because of such great sacrifices that Indra was made King of heaven. Here the brahmana descendants of Bhrgu decided that although Maharaja Bali was situated on the throne of Indra, he would not be able to stay there unless he performed such sacrifices. Therefore they advised Maharaja Bali to perform at least as many asvamedha-yajnas as Indra. The word ayajayan indicates that all the brahmanas induced Bali Maharaja to perform such sacrifices.
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