Assuming you want to leave where you are and you'd be happy with either option, I have some questions for you to contemplate:
1. About your manager - Much of work happiness comes from who you work for. Kevin Kelly says, "Don't ever work for someone you don't want to become."
When you look at who you'll be reporting to and their managers, who would you most like to be like?
2. About the industry - It sounds like the industry is a factor in your decision (HRMS vs IT MNC). Which has more growth opportunity for your career and less likelihood of being replaced by automation?
3. About the work culture - A company that's been around for 7 years is not a startup. I'm filling in the blanks here. If it's about company size, what type of working environment is a better fit for you?
A smaller company may need you to do work that's outside of your area of expertise. You may need to make decisions to get stuff done without a lot of guidance and oversight. If you like understanding what you're meant to do and how what you do has an impact, this may not be the right fit as you may do a bunch of work that doesn't get used as the company tries to find its footing.
On the other hand, if you like rolling up your sleeves and thrive with ambiguity, a smaller company may be the better fit for you.
I help people get unstuck for a living. I need a bit more context to be truly helpful, but hopefully this provides you with things to think about that help you with your decision. All the best!
Or try asking yourself: which of these options do I feel like I should do and which one do I feel like I want to do? And then do the one you want to do.