Bolton once again looked less sharper than the side which drew with Arsenal just eight days ago, more or less showing the same weaknesses in their play which had seen them lose to Liverpool at Anfield just two days before, however a spirited second half performance wasn't enough as veteran striker Les Ferdinand headed home to deny Wanderers the win.
Leicester had the first chance of the game when on ten minutes former Spurs defender Ben Thatcher crashed a free kick against the Bolton post which would have left Trotters keeper Jussi Jaaskelainen beaten.
Then eight minutes later the Foxes took the lead, Jaaskelainen's poor kick wasn't cleared correctly and Marcus Bent curled the ball around the Finn before he could adjust himself back into position.
Wanderers seemed less fluent and passes wheren't quite coming together however they did have a couple of half chances through Kevin Nolan, the second of which was tipped away by City goalkeeper Danny Coyne, who was making his full Premiership debut.
Bruno N'Gotty, celebrating a return to the Bolton side following injury netted the equaliser for the home side and his second goal in a month when a curling free kick by compatriot Youri Djorkaeff on 35 minutes was scrambled home by the 32-year old defender.
Bolton went into the interval disappointed with their play and this was rectified when Sam Allardyce sent his troops out for the second half. The passing was more clinical and they managed to keep hold of possession a lot more easily than they had in the first half.
On 54 minutes the pressure paid off when Ivan Campo collected a left wing pass from Youri Djorkaeff to fire the ball into the bottom left hand corner of Coyne's goal from 18-yards. Djorkaeff himself could have gotten onto the scoresheet a few moments later but his volley sailed marginally over.
Wanderers had a strong penalty appeal turned down on 63 minutes when Kevin Davies appeared to have been felled in the area by Riccardo Scimeca but referee Neal Barry was quick to wave away any Bolton appeals despite the fact that the former Southampton striker did look to have been caught by Scimeca.
Both sides made changes in a bid to salvage something from the game. Leicester brought on Les Ferdinand and Paul Brooker for Paul Dickov and Craig Hignett whilst Wanderers withdrew Stelios Giannakopoulos and brought on Henrik Pedersen. The Foxes themselves had a penalty appeal turned away when Marcus Bent came second best in a tussle with Simon Charlton.
Pedersen almost made an immediate impact for Bolton when on 77 minutes he saw his effort sail wide of Coyne's post, but the Dane is in good form at the moment having found the net in the clubs last three matches, however not enough it seems to have warranted a starting place.
Wanderers captain Jay-Jay Okocha, quiet by his usual standard had a free kick on 81 minutes but this wasn't enough to trouble Welsh international Coyne in the Foxes goal.
Leicester then pressed for an equaliser and rather than put the ball out of harms way Bolton invited the pressure of the Midlands side and the away side snatched a valuable point in injury time when substitute Ferdinand headed home a corner from Muzzy Izzet in a result which moves Bolton out of the top ten to twelvth in the Premiership table.