The visitors in fact had much the better of the first half chances and although Ipswich improved after the break, Chris Weale in City's goal had precious little to do all afternoon.
Leicester could have been ahead in just the second minute when former Town defender Wayne Brown bulleted a header narrowly over from Lloyd Dyer's cross when he really should have at least hit the target.
Brown's mistake at the back a few minutes later gave Town their first chance with his misplaced back header dropping into the path of Jon Stead, but his header lacked the pace to trouble Weale.
Lee Martin, a £1.5million summer signing from Manchester United, broke through on nine minutes on to an astute Liam Trotter long ball, cut inside City debutant Robbie Nielsen, but shot too close to Weale.
Nielsen shot over at the other end before Richard Wright claimed a snap-shot from Matty Fryatt and then Steve Howard volleyed over when he strolled unmarked onto a Nielsen long throw as Leicester turned the screw.
Weale made a good diving save to deny Jon Walters after he let fly from 25 yards and another Walters shot on the turn from David Wright's pass was easily held.
Keane amended his 4-5-1 formation at half-time, throwing on strikers Tamas Priskin and teenage sensation Connor Wickham and they gave the Leicester backline far more to think about than Stead, who was one of those to make way along with Colin Healy.
It was Leicester who threatened first though, as Fryatt latched onto a loose ball in the Town box and fired firmly goalwards, but Wright was equal to it with a fine diving save.
Wright saved comfortably from Bruno Berner's speculative angled shot before Priskin, making his home debut, lashed a fierce shot not far off target from David Wright's run and pass.
Dany N'Guessan, a scorer in Leicester's opening day win over Swansea, shot strongly over before Fryatt scuffed a good chance wide after Howard's header down which appeared to strike David Wright's arm.
Walters' back header was easily saved by Weale before young Wickham, who netted twice in Town's midweek Carling Cup win at Shrewsbury, got a touch to a low David Wright cross, but it spun wide.
The game fizzled out towards the end with Leicester happy with the draw - so much so that both Weale and sub Martyn Waghorn were booked for time-wasting - and Ipswich were unable to apply any real pressure and left the field to boos.