During the Pralaya the Puranakumbam (amirtham in a pot - bowl of nectar) moved from Mahameru to south direction and reached Kumbakonam, Shiva in the form of Kirathamurthy (as hunter) aimed the Puranakumbam with the bow and arrow(banam in Sanskrit language) and breaked it, the bowl split and the Amirtham got stagnated in two places at Portramaraikulam (golden Lotus pond) and Mahamahamkulam.

A Shiva Lingam formed at the place where Kirathamurthy aimed the Amithrakudam. Since the lord used the arrow (Banam) the deity lingam is called Banabureeswarar.