Mumbai, Dec. 10 -- Nephrocare Health Services, better known as NephroPlus, is pitching itself as a global dialysis disruptor on the back of what chairman and managing director Vikram Vuppala touts as a low-cost, high-efficiency operating model.

Built at India's price point and refined through scale, the company now plans to replicate this template in higher-priced international markets. But as it doubles down on its ambition, the scale that powered its domestic rise could turn into a liability overseas, if execution risk, staffing fragility, and competitive intensity spike, experts warned.

Nonetheless, the company is set to tap the public markets on Wednesday to fund its next leg of expansion. The Rs.871-crore initial public offering (I...