The 25-year-old Portuguese took to Instagram on Saturday night to announce he has suffered an adductor injury.
He joins Rayan Ait-Nouri, Romain Saiss, Fernando Marcal and long-term absentee Raul Jimenez on the sidelines – while Jonny Castro Otto is now back involved in training after several months out.
Nuno Espirito Santo suggested in his pre-Leicester press conference on Friday afternoon that Wolves' situation had got worse, and Podence posted: "Unfortunately injuries are following me these times... now in the adutor (sic).
"I will recover very well and return at 150%.
"Always happy because I have more reasons to smile than cry. And supporting my team in the next 5/6 weeks thank you for supporting me."