Change in shareholding of pvt. company

Dear All,

Kindly help me with the below query:

Consider XYX Ltd. which is a pvt. ltd. company currently held by 4 members each holding 25% equity. Now it is intended to transfer some part of shareholding to a new member such that now all the members have equal stake i.e. 20% each. However the new member will not be contributing any funds as share capital. Can you please elaborate on the steps to be followed to carry out the above transfer ?

Thanks in advance