This is a pictograph of an adult person standing on top of a foundation stone. Hence, it is an ideograph for the verb to establish. The sign shares a common root with the Chinese character lì 立.
Illustrative Text Reference:
Dholavira: Seal: SI. Number: 217: Acc. Number: 51582 (NB. The photograph is of the seal. Therefore, the inscription would be the mirrored image of that seen in the photograph.): R.S. Bisht, 2015: 8.2.3 Details of Individual Seals: Excavations at Dholavira (1989-90 to 2004-2005), p. 305: https://www.scribd.com/document/262316120/Excavations-at-Dholavifra-1989-2005-RS-Bisht-2015: Accessed: 11 February, 2019.
Comment:
There is only one extant example of this Indus sign.
Image Credit:
Indus Script Sign Number 43: Sign List of the Indus Script: Iravatham Mahadevan, 1977: The Indus Script: Texts, Concordance and Tables: The Director General Archaeological Survey of India.