Bali chakravarti Danagunam gurinchi rayandi
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Answer:
Mahabali was the grand son of bhagavat bhakt shri prahalad. He was initially a very just and great king but was later taken aback by how the asuras were ill treated by the devas and waged a war against indra and occupied the deva loka as its king.But as fate had its way in his life he did a rajasuya yagna and gave away anything asked by anyone as a daana.
He came from a very noble family of enlightened souls and was fully aware that vaman murty was none other than shri maha vishnu and in spite of bhagwan asking him for three steps of what bali possessed he agreed to it fully aware of the situation.
When vaman murty pushed bali to patal lok by placing his feet on his head he was liberated and became blessed. In return for the daana that he gave to bhagwan he was blessed to become the patal lokaditipaty or the king of the underworld. He was also blessed with mukti and could visit any world on his will.