Found the Package server IIS was crashed and not able to start.
From Services Console checked and found that the below services were stopped and were giving error while starting:
Error 6801: Transaction support within the specified resource manager is not started or was shut down due to an error" when WAS service is started
IIS Crashed
Suggested to contact Microsoft and Fix the IIS issue.
Note: This applies to SMP 8.1 RU6