(The L in this name is pronounced like 'l' in 'lip' and the KSH is pronounced like 'ctio' in 'action'.)
Please see the links 'vishnu' and 'soma' too.
Lakshmi is the principal name of Vishnu's wife.
According to our mythology, Chandra, Lakshmi,ambrosia,firy poison, apsaras, kalpa tree, Kousthubha gem, divine cow Kaamadhenu, divine elephant Ayraavatham, divine horse Uchchyshravam etc were born out of the milk-sea, when it was churned by the god and demons for ambrosia .
Soon after her manifestation from the milk-sea, she loved Vishnu and she resided since then on his chest. Lakshmi is the goddess of wealth. It is common for people to worship her for wealth and other monetary benefits. She is the principal godesss worshipped by most of the people.
"After praying to Naaraayana, Nara, Sarasvathi and Vyaasa, then one should read the Jayam."
DEDICATED TO MY DEAR NIECE VYSHNAVI KRISHNA