Conjunction Particle + Prepositional Phrase.

: Appositive/Conjunction particle. It links this clause with the preceding one which is about the reading and compilation of the Book at times from true dawn to the rising of the Sun. The Night ends in relation to Formal-Congregational Prayer with the emergence of true dawn. Prepositional Phrase: in context with the preceding clause; and the subsequent verb prefixed with Particle "فَ" which shows sequence of events, conspicuously conveys that the addressee is  advised to rise in the segment of the night earlier than true dawn. Learned grammarians parse this sentence like this:

It can further be cross checked with another on line source:

{ وَمِنَ اللَّيْلِ فَتَهَجَّدْ بِهِ نَافِلَةً لَكَ عَسَى أَنْ يَبْعَثَكَ رَبُّكَ مَقَامًا مَحْمُودًا }
قوله "ومن الليل": الواو عاطفة، الجار "من الليل" متعلق بـ"اسهر" مقدرة، والجملة المقدرة معطوفة على جملة { أَقِمِ } ، وقوله "فتهجَّد": الفاء عاطفة، والجملة معطوفة على "اسهر" المقدرة، والمصدر "أن يبعثك" فاعل عسى، "مقاما": حال أي: يبعثك ذا مقام، وجملة "عسى أن يبعثك" مستأنفة.
 

: The verbal sentence is prefixed with Particle "فَ" that relates sequence of events. It conjuncts the cause and its effect in time line. The Verb is Imperative; second person; masculine; singular; Intransitive; Subject pronoun hidden which refer the Elevated Messenger Muhammad Sal'lallaa'hoalaih'wa'salam. The verb denotes to awake and remain awake during some time of night. The Verb is Form-V. It has reflexive causative meanings. It generally depicts such actions where the subject honestly and sincerely tries to transform himself, and performs that action diligently. It has transformative meanings, Noun-ized; make oneself to be Noun. The meanings of Form-V are simply the meanings of Form-II plus the word "himself."  : This prepositional phrase relating to verb and the suffixed object pronoun of preposition refer back to the compiled book: Grand Qur'aan.

This is an additional time-bound assignment-activity/supererogation for you alone.

This is circumstance clause [حال]. The other proposition is to take it as Verbal Noun as Cognate Adverb [المفعول المطلق]. However, in consideration of intransitive verb, it is better to take it as circumstance [حال]. However, the meanings remain quite evident and apparent.

Immediately after this advisory command to the Elevated Messenger Sal'lallaa'hoalaih'wa'salam, the breaking news is:

It may well is anticipated, that your Sustainer Lord might soon honorably resurrect/revive/return you to the state of original Place/Abode of Glory and Praise.

: [من افعال الرجاء] Verb of approximation/anticipation: Perfect; third person; singular; masculine, with prolongation sign; Subject Noun hidden. We find in Grammar books information about such Verbs, that it are coined to indicate closeness of the Khabar/Predicate to its subject. It signifies hope and is not used in other than the present tense due to its being a partially inflected verb. In its government it is like "Kana", except that its Predicate is a present tense verb with Particle "An". The anticipation expressed by Allah the Exalted is a concrete fact to take physical existence sooner or later.

:  Subordinating conjunction, Subjunctive particle

: It is a complete verbal sentence. Verb: Imperfect; Third Person; Singular; Masculine; active; Mood: Subjunctive; [ كَ] Suffixed fronted Object pronoun: Second Person; singular; masculine, in accusative state.

: Possessive Phrase: Noun: Definite; Singular; Masculine; nominative; the Subject of Verb + Suffixed possessive pronoun كَ: Second person; singular; masculine, in genitive state. 

: Noun of place: Definite; singular; masculine; accusative; مصدر-قِيَامٌ Verbal noun.

Passive participle; masculine; accusative.

: The Root of Verb is: "ب ع ث". Lane's Lexicon based upon Classical Arabic Lexicons, states that it, "Signifies the removing of that thing which restrains one from free action". The restraining of free action makes things dormant, static, heedless, negligent, unmindful, captivated; deep unconsciousness and in its extreme meanings death, which converts the living into matter that is fond of inertia, unwillingness to move or act, property of matter to hate and resist to change from outside disturbing its rest or continuous moving in one manner. Removing of the restraint implies and results in the revival of earlier/original state, which is the basic concept folded in this Root. Therefore, all the words taking birth from this Root will be infolded with this basic concept in whatever manner they are shaped and employed in a sentence. Moreover,  its words must have a relation with the restraint that restrained the free action.

This indicated at the point in time of its revelation that the Mission of  Muhammad Sal'lallaa'hoalaih'wa'salam, the Elevated Messenger of Allah the Exalted, was nearing accomplishment. The accomplishment would result in revival of the original state, i.e. . This is adjectival Phrase. is the Noun of Location. It will hardly effect the meanings of the sentence whether we take this accusative Noun as Cognate Adverb [المفعول المطلق] or Circumstance [حال].  The disclosed/breaking news was about the revival-return-resurrection towards a location-Original Abode. This location is adjectively qualified by the Passive Participle: , rendering that Abode as Abode of Glory and Praise. The Verb: only denotes resurrection, reinstatement, reversion to original state when the impediment, cause, or restraint that caused the presently existing state is removed. Further update about this breaking news is given hereunder which reconfirmed that the revival and reversion is not to some new place but to the Original Abode of the Elevated Messenger of Allah the Exalted:

: Verb: Perfect; Third Person; Singular; Masculine; Subject pronoun hidden, linked back to Relative Pronoun, denoting Allah the Exalted. The basic perception infolded in its Root "ف ر ض" is that of cutting something solid and hard which entails assessment and marking as to how, from where and how much be the incision and cutting. Since markings assign a distinct apportioning from the whole, it gives the signification of allocating, earmarking, prescribing or specifying the share. Therefore, it also signifies something made obligatory-ordained-prescribed at a given point in time. Reference to point in time is built in the perception of Root.

The Object of Past Verb which was allocated-earmarked-prescribed or specified at some point in time is: . The responsibility for the Conveyance and Delivery of Grand Qur'aan was earmarked, allocated, assigned upon the Last  Messenger Muhammad Sal'lallaa'hoalaih'wa'salam. This information is the Subject of Verb Like Particle  that emphasizes the certainty of the following predicate about its subject. Its Predicate: has also [لام التوكيد-المزحلقة] Prefixed emphatic particle signifying double emphasis on the certainty of breaking news. The Active Participle is from the Root "ر د د". It signifies returning, reverting to the position of beginning. This return to the position of beginning is further elaborated by the prepositional phrase "towards ". It is a location Noun from Root "ع و د". This Root too signifies the act/motion of returning which obviously reflects going-reverting back to original position, state, or location, or original abode.

Allah the Exalted has elaborated in simple and straightforward words about the Abode from where was the descent and subsequently its revival by ascension to that Original Abode: after the completion of specified assignment by the Great of Creations, the Elevated Messenger Muhammad Sal'lallaa'hoalaih'wa'salam. There is no mystery involved. We also descended from an elevated location to lowly world. However, our reversion and ascension back to our original abode/Paradise is neither promised nor ensured except subject to the condition that we follow, in letter and spirit without intervention and influence of any third party in-between, the Elevated Messenger Muhammad Sal'lallaa'hoalaih'wa'salam.