UK-based J&P Coats Ltd has put in a bid to buy out its remaining stake in Indian textile company Madura Coats Ltd.   J&P Coats already holds 63.2 per cent of Madura Coats, and has offered 40 rupees per share for the remaining 36.8 per cent.   A statement from J&P Coats' parent Coats Plc said it wanted to increase and expand its business presence in India as well as develop the country as an important source of products.