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Śrīmad-Bhāgavatam 7.3.21

తతస్త ఆశిష: సర్వా దదామ్యసురపుఙ్గవ । మర్తస్య తే హ్యమర్తస్య దర్శనం నాఫలం మమ ॥ ౨౧ ॥
tatas ta āśiṣaḥ sarvā
[tatas ta aashishah sarvaa]
dadāmy asura-puṅgava
[dadaamy asura-pungava]
martasya te hy amartasya
[martasya te hy amartasya]
darśanaṁ nāphalaṁ mama
[darshanam naaphalam mama]
tataḥ — because of this te — unto you āśiṣaḥ — benedictions sarvāḥ — all dadāmi — I shall give asura-puṅgava — O best of the asuras martasya — of one who is destined to die te — such as you hi — indeed amartasya — of one who does not die darśanam — the audience na — not aphalam — without results mama — my.
Blended reading (Sanskrit + English inline)
tatas ta āśiṣaḥ sarvā
tataḥ
because of this
dadāmy asura-puṅgava
martasya te hy amartasya
te
unto you
āśiṣaḥ
benedictions
darśanaṁ nāphalaṁ mama
sarvāḥ
all
dadāmi
I shall give
asura-puṅgava
O best of the asuras
martasya
of one who is destined to die
te
such as you
hi
indeed
amartasya
of one who does not die
darśanam
the audience
na
not
aphalam
without results
mama
my.
O best of the asuras, for this reason I am now prepared to give you all benedictions, according to your desire. I belong to the celestial world of demigods, who do not die like human beings. Therefore, although you are subject to death, your audience with me will not go in vain.

It appears that human beings and asuras are subject to death, whereas demigods are not. The demigods who reside with Lord Brahmā in Satyaloka go to Vaikuṇṭhaloka in their present bodily constructions at the time of the dissolution. Therefore although Hiraṇyakaśipu had undergone severe austerities, Lord Brahmā predicted that he had to die; he could not become immortal or even gain equal status with the demigods. The great austerities and penances he had performed for so many years could not give him protection from death. This was foretold by Lord Brahmā.

— A.C. Bhaktivedanta Swami Prabhupāda
Viśvanātha Cakravartī Ṭhākura Gauḍīya
Translation
O best of the demons! For this reason I will give you all benedictions. The audience of you, a mortal, with me, an immortal, will not go in vain. Because Hiraṇyakaśipu was born from demons, he is bound to die. Therefore he is called martasya. The meaning is instrumental case (martyena tvayā).
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