Devas (gods) and asuras (demons) were both mortal at one time in Hinduism.
Amrita, the divine nectar that grants immortality, could only be obtained by churning Kshirasagar ('Ocean of Milk').
The devas and asuras both sought immortality and decided to churn the Kshirasagar with Mount Mandhara.
The samudra manthan commenced with the devas on one side and the asuras on the other.
Vishnu incarnated as Kurma, the tortoise and a mountain was placed on the tortoise as a churning pole.
Vasuki, the great venom-spewing serpent-god, was wrapped around the mountain and used to churn the ocean.
A host of divine celestial objects came up during the churning.
Along with them emerged the goddess Lakshmi.
In some versions, she is said to be daughter of the sea god since she emerged from the sea.

In Garuda Purana, Linga Purana and Padma Purana, Lakshmi is said to have been born as daughter of the divine sage Bhrigu and his wife Khyati and was named Bhargavi.
According to Vishnu Purana, the universe was created when the devas and asuras churn the cosmic Kshirasagar.
Lakshmi came out of the ocean bearing lotus, along with divine cow Kamadhenu, Varuni, Parijat tree, Apsaras, Chandra (the moon), and Dhanvantari with Amrita ('nectar of immortality').
When she appeared, she had a choice to go to Devas or Asuras.
She chose Devas' side and among thirty deities, she chose to be with Vishnu.
Thereafter, in all three worlds, the lotus-bearing goddess was celebrated.
Devas (gods) and asuras (demons) were both mortal at one time in Hinduism. Amrita, the divine nectar that grants immortality, could only be obtained by churning Kshirasagar ('Ocean of Milk'). The devas and asuras both sought immortality and decided to churn the Kshirasagar with Mount Mandhara. The samudra manthan commenced with the devas on one side and the asuras on the other. Vishnu incarnated as Kurma, the tortoise and a mountain was placed on the tortoise as a churning pole. Vasuki, the great venom-spewing serpent-god, was wrapped around the mountain and used to churn the ocean. A host of divine celestial objects came up during the churning. Along with them emerged the goddess Lakshmi. In some versions, she is said to be daughter of the sea god since she emerged from the sea.
In Garuda Purana, Linga Purana and Padma Purana, Lakshmi is said to have been born as daughter of the divine sage Bhrigu and his wife Khyati and was named Bhargavi. According to Vishnu Purana, the universe was created when the devas and asuras churn the cosmic Kshirasagar. Lakshmi came out of the ocean bearing lotus, along with divine cow Kamadhenu, Varuni, Parijat tree, Apsaras, Chandra (the moon), and Dhanvantari with Amrita ('nectar of immortality'). When she appeared, she had a choice to go to Devas or Asuras. She chose Devas' side and among thirty deities, she chose to be with Vishnu. Thereafter, in all three worlds, the lotus-bearing goddess was celebrated.
Lakshmi