Nathan Broadhead scored his first Championship goal for Wrexham following his £7.5m move from Ipswich Town
Record Wrexham signing Nathan Broadhead helped Phil Parkinson's side come from behind to take a point at King Power Stadium and extend Leicester's winless run to four games.
The Foxes looked as though they were heading for their first victory in a month after Wales midfielder Jordan James' first-half goal put the hosts on top.
But, after three successive draws for the Foxes, Wrexham capitalised on Leicester anxiety and lack of cutting edge as Broadhead pounced with 13 minutes remaining.
It was the Wales forward's first Championship goal since making a £7.5m move from Ipswich Town in the summer transfer window.
And it was the 27-year-old's introduction from the bench after the hour mark that helped Phil Parkinson's side asked questions of the hosts who had dominated possession without creating chances.
Bobby De Cordova-Reid had struck the post in a fast-paced opening, while Wrexham wondered if they would rue missing their own early chance; Lewis O'Brien should have done better when an under-hit back pass from Hamza Choudry gave him a clear sight of goal on 17 minutes.
But while wingback Issa Kabore provided plenty of Wrexham threat, Leicester's domination of the ball told when James' one-two with the recalled Patson Daka allowed him to burst behind.
His side-footed finish was the climax of a 13-pass move that began with goalkeeper Jakub Stolarczyk and involved nine Leicester players.
With the hosts' unable to press home their advantage, Wrexham's second-half changes helped increase the nerves among the home supporters at the King Power.
And it told when O'Brien pressurised Victor Kristiansen into a mistake on the byline and centred for Broadhead to sweep home.
Broadhead went close to winning it late on, a result that prompted boos from some of the home fans.
Analysis: Wrexham settling nicely while Leicester lack cutting edge
Wrexham manager Phil Parkinson had been among those to admit this was one of the headline fixtures for the serial promotion winners ahead of their arrival on the Championship stage.
After all, back when Leicester were taking on Atletico Madrid in the last-eight of the Champions League in 2017, Wrexham were being beaten by Braintree on their way to a 13th-placed finish in the National League.
Even three years ago there were still four divisions between these two sides, so you could understand why the draw was celebrated with such vigour by the travelling supporters.
Of course, times have changed and Wrexham's ability to compete this season will not be based on what has gone before.
But this was more evidence that – increasingly, incrementally – Phil Parkinson's side are getting there.
There is an irony that, having signed 13 new faces for this summer, Leicester's goalscorer Jordan James was a player Parkinson had eyed but was unable to get to the Stok Cae Ras.
As beautiful as it was constructed, the goal will frustrate Wrexham with Lewis Brunt perhaps guilty of stepping in at the wrong time.
But even with less of the ball, Parkinson has already got the right attitude stamped through his side to ensure they will keep going and keep creating chances.
In Issa Kabore, they have a player who worries full-backs – as shown with the half-time withdrawal of Luke Thomas, who struggled against his pace.
And they did not lose composure as the clock ticked down. Instead they grew in confidence as the jitters grew among a home side who failed to make more of their possession.
The leveller came through O'Brien's commitment to chase a lost cause, as well as Broadhead's composure when the key opportunity came, keeping up Wrexham's record of scoring in every league and cup fixture this term.
It means Wrexham have picked up results at Millwall, Norwich and Leicester, proof indeed that they are settling into life in the second-tier.
As a newly promoted side, Wrexham can be afforded such time to find their feet.
With the pressure on Leicester to quickly return to the Premier League, Foxes fans will want more immediate signs of getting it right under Marti Cifuentes.
There was plenty to be positive about – 16-year-old Jeremy Monga looked a threat as one of four changes from the draw at West Brom, Harry Winks pulled the strings in midfield.
But it says much that James' goal was their only shot on target – with the full-time jeers a sign that more is expected.
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Post-match reaction
Wrexham manager Phil Parkinson told BBC Radio Wales:
"I'm very proud of the performance. In the first-half we had some good chances – and they did as well with balls flashing across the six yard box.
"They did us with a one-two and those moments can be key, but we told them at half-time our structure would give us more chances and defensively I thought we were brilliant.
"We looked so strong doubling up on wide players which we knew we would have to do with the real talent they have in the team.
"People did their jobs for the whole team, and if we do that we have quality - and we really showed that at times in the second period.
"I felt we had the quality to make something happen and we did."
Leicester City manager Marti Cifuentes told BBC Radio Leicester:
"I'm really disappointed. We threw away two points today. I think we were arrogant. I think that after a good first half, someone didn't understand that to win football games you need to always be at the top level.
"That's my fault because I told them at half-time that 1-0 wouldn't be enough and we needed to push and to expect to be dominant for 90 minutes is not a reality.
"The last 10, 15 minutes were far from good and we really need to look at ourselves. We can be better than we were in the second-half."
Parkinson: ‘The supporters are starting to believe in us’