A mistake from Leicester keeper Ricardo saw Marlon King put Coventry ahead but Kyle Naughton equalised on the stroke of half-time with a spectacular strike.
Martin Cranie was sent off after receiving a second yellow card in the 90th minute but Coventry held on.
The last four M69 derby matches have now ended all-square and this one leaves Leicester in seventh spot two points behind Leeds, who lost 3-0 at promotion rivals Swansea in the early kick-off.
It was against the run of play when Coventry went ahead after 14 minutes with their first real attack when King shot straight at Ricardo and the ball went through the hands of the Portuguese and into the corner of the net.
It looked like Coventry would hold on until half-time but Naughton equalised in spectacular fashion in the final minute of the half when he burst into the penalty area and smashed an unstoppable shot into the top left-hand corner with his supposedly weaker left foot.
Leicester`s hopes of snatching more than a point received a boost when Cranie fouled Martyn Waghorn and was sent off, but the hosts were unable to muster one final chance.
Source: PA
Source: PA